BRUNEX GOLD RESOURCES LTD. ANNOUNCES COMPLETION OF ACQUISITION.TORONTO, ONTARIO--(BUSINESS WIRE)--JAN. 20, 1995--BRUNEX GOLD RESOURCES (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. : BRNX) Brunex Gold Resources Ltd. ("Brunex") wishes to announce the completion of the acquisition of all the outstanding securities of RES Policy Research Inc. In consideration for such acquisition, Brunex has issued 27,733,334 common shares and 4,000,001 common share purchase warrants in the capital of Brunex, each such warrant entitling the holder to acquire 1 common share of Brunex at a price of $0.75 per share, subject to increase in certain circumstances, up to and including October 31, 1995. Upon completion of the acquisition, Brunex has outstanding 28,403,304 common shares and 4,000,001 common share purchase warrants. As a result of the completion of the acquisition, Rolf E. Schliewen owns 12,600,000 common shares representing 44.36 percent of the issued and outstanding shares of Brunex. In addition to the above shares, Schliewen has voting control over 3,700,000 common shares of Brunex for a two year period until January 19, 1997 pursuant to voting trust agreements Voting Trust Agreement A contractual agreement detailing the specifics of the voting trust, including the name of its trustee, the effective timeframe, and the nature of its formation. with Stephen Callary and James Donoghue, officers and directors of RES Policy Research Inc. Also as a result of the completion of the acquisition, Stephen J. Callary owns 3,600,000 common shares, representing 12.67 percent of the issued and outstanding common shares of Brunex. Mr. Schliewen and Mr. Callary are both founders of RES, a wholly-owned subsidiary of Brunex. In addition, Integrated Growth Fund Inc. owns 1,600,000 common shares and 1,600,000 common share purchase warrants of Brunex. Brunex owns 100 percent of the outstanding common shares in the capital of RES Policy Research Inc. ("RES"). RES is a Canadian controlled private corporation established in 1980 with its headquarters in Ottawa. RES provides a full range of information technology services, turn-key applications and customized applications development services to governments, private sector companies and international organizations. RES has achieved international recognition in the automation of national intellectual property (IP) offices. The Canadian International Development Agency The Canadian International Development Agency (CIDA) is a Canadian government agency which administers foreign aid programs in developing countries. CIDA operates in partnership with other Canadian organizations in the public and private sectors as well as other (CIDA CIDA Canadian International Development Agency CIDA Council for Interior Design Accreditation (Grand Rapids, MI) CIDA Centro de Información Documental de Archivos CiDA Certificate in Digital Applications ) has contributed $1.4 million in assistance to promote multi-million dollar modernization projects in Mexico, Venezuela, Columbia and China. The Department of Foreign Affairs foreign affairs pl.n. Affairs concerning international relations and national interests in foreign countries. and International Trade has contributed $814,000 to RES for technical assistance to the Russian Patent Office. Malaysia, with the support of the United Nations World Intellectual Property Organization (WIPO WIPO World Intellectual Property Organization WIPO World Intellectual Piracy Organization (satire website) WIPO Write in Poll Option WIPO Wing Information Protection Office (USAF) ), is undertaking a modernization project and RES, in partnership with a Malaysian company, has submitted a formal proposal for the modernization and is currently awaiting the results of the evaluation. The proposed solution will result in the provision of a state-of-the-art image based document management and administrative processing system, with RES providing information technology services and systems. The RES IP Office automation solution is ideally suited for countries with small to medium sized intellectual property offices, such as Canada, Mexico, Malaysia, China, Venezuela, Colombia and Argentina because it provides advanced technology and comprehensive functionality at a highly competitive cost. In addition RES solutions are fully compatible with those of the major offices in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. , Japan and the European Patent Office each of which has required considerably larger investment. Thus the RES Canadian technology is attractive to many countries. RES also has an Advanced Technology group which develops software products based on artificial intelligence and expert systems technologies. These are used in managing and analyzing data in automated systems such as: the Travel Expert System (TES TES Times Educational Supplement (publication) TES The Elder Scrolls (series of computer games) TES Thermal Emission Spectrometer TES Teaching Every Student TES Thermal Energy Storage ), which is an advanced travel administration system for use by an consortium of Federal Government Departments; the Expert Job Classification System (EXCLASS), which automates the preparation, evaluation and classification of jobs in the Federal Government; and the Telecommunication Network Diagnostic System which assists telephone companies to pinpoint system failures has been sold to a major telephone company. Prior to the acquisition of the outstanding securities of RES by Brunex, RES completed an offering of units pursuant to which it raised $1,100,000 before offering expenses. The net proceeds Net Proceeds The amount received after all costs are deducted from the sale of a piece of property or security. Notes: In the case of an investor selling a security, net proceeds represent the proceeds from the sale minus any trading costs (i.e. commissions). have and will be used towards the growth of RES. With increased working capital, RES now has increased financial strength to lead IP Office and other integrated functional systems projects, and will continue to develop strategic alliances with equipment suppliers and companies in client countries to form teams for the execution of international projects. Brunex also wishes to announce that Bradley R. Wilson, Dan Amadori, Rolf E. Schliewen, Stephen J. Callary, James Donoghue, Jack Julien, Hon. Bill McKnight William Hunter "Bill" McKnight, PC (born July 12 1940) is a former Canadian politician. Born in Elrose, Saskatchewan, he served as Minister of Agriculture , Minister of Indian Affairs and Northern Development , Minister of National Defence , Minister of Energy, Mines and , Peter Sandiford and Senator Con DiNino have been appointed directors of both Brunex and RES. Mr. Wilson is President of Queensbury Financial Corp., a company involved in providing consulting and advisory services advisory services advisory services provided to the public, in their capacity as owners and managers of animals, are an important part of veterinary science. They may be provided by government bureaux, by commercial companies who deal in pharmaceuticals or animals or animal for merger and acquisition transactions, financing transactions and public relations public relations, activities and policies used to create public interest in a person, idea, product, institution, or business establishment. By its nature, public relations is devoted to serving particular interests by presenting them to the public in the most services, and President of Sagewood Resources Limited, a public company trading in Ontario in the over-the-counter market over-the-counter market Trading in stocks and bonds that does not take place on stock exchanges. Such trading occurs most often in the U.S., where requirements for listing stocks on the exchanges are strict. . Mr. Amadori is President of LaMerac Financial Corp., a firm specializing in implementing merger, acquisition, divestiture The breakup of AT&T. By federal court order, AT&T divested itself on January 1, 1984 of its 23 operating companies, which became known as the Regional Bell Operating Companies (RBOCs). and corporate finance assignments. Mr. Schliewen is President and Chief Executive Officer of RES and has over 20 years of expertise in the fields of information systems project management and organization development. Mr. Callary is Secretary-Treasurer of RES and specializes in technology transfer and international project financing Project financing A form of asset-based financing in which a firm finances a discrete set of assets on a stand-alone basis. . Mr. Donoghue is Vice-President, International Projects of RES. Mr. Julien is Vice-President, Corporate of RES. Mr. McKnight is the chairman of NAFTA NAFTA in full North American Free Trade Agreement Trade pact signed by Canada, the U.S., and Mexico in 1992, which took effect in 1994. Inspired by the success of the European Community in reducing trade barriers among its members, NAFTA created the world's Trade Consultants Inc., an international project development firm. Mr. Sandiford is the Chairman of Global Business Alliance Inc., an international electronic business exchange network. Mr. DiNino is President of Integrated Growth Fund Inc., a labour sponsored investment fund corporation. Brunex also wishes to announce the pending name change of Brunex to "RES International Inc." or such other name as may be selected by the board of directors of Brunex and acceptable to applicable regulatory authorities. CONTACT: Brunex Gold Resources Ltd. Mr. Bradley R. Wilson, 416/861-0739 |
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