Anvil Range Announces Extension of Court Protection.TORONTO--(BUSINESS WIRE)--Feb. 19, 1998--(OTC Bulletin Board OTC Bulletin Board An electronic quotation listing of the bid and asked prices of OTC stocks that do not meet the requirements to be listed on the NASDAQ stock-listing system. :AROM AROM Active range of movement. See Range of motion. ) Anvil Range announces that the Stay of Proceedings In civil procedure and criminal procedure, a stay of proceedings is a ruling by the court halting further legal process in a trial. The court can subsequently lift the stay and resume proceedings. However, a stay is sometimes used as a device to postpone proceedings indefinitely. obtained by the Company on February 16, 1998 under the Companies' Creditors Arrangement Act, has been extended to March 25, 1998. During this period, the Company intends to further refine its restructuring plan and to consult with all its stakeholders in order to seek their assistance with the development of its plan. In addition to the extension of the Stay of Proceedings, the Ontario court has authorized the Company to pay all amounts owing to its Yukon based employees due to the shutdown of the Faro Faro, town, Portugal Faro (fä`rō), town (1991 pop. 31,966), capital of Faro dist. and of Algarve, S Portugal. The southernmost town in Portugal, it is a seaport from which fish, fruit (especially dried figs), wine, and cork are mine. These amounts, which total $1.3 million, will be paid within the next few days. Although the Company's securities were suspended from trading on the TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). on January 29, 1998, they are eligible for trading "over the counter" under the symbol "AROM". CONTACT: Anvil Range Mining Corporation - Toronto Office Patrick J. Mars, 416/ 408-5232 or Anvil Range Mining Corporation - Toronto Office Victor Wells, 416/ 408-5230 |
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