American Pacific Minerals Ltd., 78% Owner American Resource Corporation Signs Letter Agreement To Sell APM.GREENBRAE, Calif.--(BUSINESS WIRE)--December 21, 1995--American Pacific Minerals Ltd. (APM (Advanced Power Management) A programming interface (API) from Intel and Microsoft for battery-powered computers that lets programs communicate power requirements to slow down and speed up components. See ACPI. APM - Advanced Power Management ) (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :APMLF) announced today that its major shareholder, American Resource Corporation, Inc. (ARC)(NASDAQ:AREE) which holds 78% interest in APM, has signed a letter agreement with a Canadian investor group to sell ARC's interest. APM owns, through its subsidiary companies, the Goldfield Goldfield, small town, SW Nev., a former gold-mining center. Gold was discovered there in 1902, and after an early period of disappointment, large yields of high quality gold were extracted. mining properties located near Goldfield, Nev. ARC will continue to manage the Goldfield properties. Additionally, ARC will continue to advance APM funds for the costs related to the shutdown shut·down n. A cessation of operations or activity, as at a factory. shutdown Noun the closing of a factory, shop, or other business Verb shut down of the Goldfield mine. These advances, as well as APM's existing obligations to ARC, will be secured by the assets of the subsidiary companies. Under the terms of the letter agreement a number of contingencies must be satisfied before the sale can take place. CONTACT: Stephen N. Anderson Office: 415/461-6868 Home: 415/776-6499 |
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