Cabo acquires company. (Mining and Forestry: News).
Vancouver's Cabo Mining Corp. has entered into an arms-length agreement to acquire 100 per cent of the issued and outstanding shares of Heath & Sherwood Drilling Inc., a Kirkland Lake Kirkland Lake, mining town, E Ont., Canada. An important gold-mining center, gold was discovered there in 1911 and again in the 1980s at Harker. The mining of iron ore and tourism are two other important industries. area company.
The company, which operates a maintenance shop and warehouse, is active in gold camps in Timmins, Kirkland Lake and the Sudbury nickel belt. Chief executive officer and managing director of Heath & Sherwood, Terry Aimone, will assume a position on Cabo's board of directors and senior management personnel will be retained when the agreement is closed.
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No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2002, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.
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