Asquith Resources Inc. Announces Acquisition of Shares of 1153731 Ontario Inc.TORONTO Toronto (tərŏn`tō), city (1998 est pop. 2,400,000), provincial capital, S Ont., Canada, on Lake Ontario. Toronto is the largest city in Canada and since the 1970s has been one of the fastest-changing cities in North America, experiencing , Ontario--(BUSINESS WIRE)--Jan. 19, 1996--Asquith Resources Inc. ("Asquith") (CANADIAN DEALING NETWORK Canadian Dealing Network (CDN) The organized OTC market of Canada. Formerly known as the Canadian Over-the-Counter Automated Trading System (COATS), the CDN became a subsidiary of the Toronto Stock Exchange in 1991. :ASQH) announced that it has completed the acquisition of all of the issued and outstanding shares of 1153731 Ontario Inc. ("Ontario"), being 1,002,456 common shares (the "Purchased Shares"), for a purchase price of $0.50 per Purchased Share. The purchase price was satisfied by the issue of one common share of Asquith for each Purchased Share. As a result of the share issuance by Asquith, there are now 6,464,339 common shares of Asquith issued and outstanding. Ontario is a private company which has no liabilities and two assets. The assets consist of (a) interests in two mining properties, the Tully Gold property and the Diana Mine property and (b) indebtedness INDEBTEDNESS. The state, of being in debt, without regard to the ability or inability of the party to pay the same. See 1 Story, Eq. 343; 2 Hill. Ab. 421. 2. of Asquith held by Ontario in the amount of $135,828. Details describing the history and geology geology, science of the earth's history, composition, and structure, and the associated processes. It draws upon chemistry, biology, physics, astronomy, and mathematics (notably statistics) for support of its formulations. of the mining properties were included in Asquith's press release dated December 7, 1995. Asquith has made application to the Ontario Securities Commission The Ontario Securities Commission (OSC) is a regulatory agency which administers and enforces securities legislation in the Canadian province of Ontario. The OSC is an Ontario Crown corporation which reports to the Ontario legislature through the Minister of Finance. , with the agreement of the shareholder, seeking its consent to cancel 315,000 escrowed common shares of the Company presently outstanding. If the application is successful, this will have the effect of reducing the issued number of common shares of the Company to 6,149,339. CONTACT: Asquith Resources Inc. Michael D. Coulter, 416/368-3332 (President) |
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