Caledonia Mining Corp. makes announcement.MISSISSAUGA Mississauga (mĭsĭsaw`gə), city (1991 pop. 463,388), S Ont., Canada, 12 mi (20 km) W of Toronto on Lake Ontario. A residential suburb of Toronto and a growing transportation and industrial center, it is one of Canada's fastest-growing , CANADA--(BUSINESS WIRE)--Jan. 20, 1995--CALEDONIA MINING CORPORATION, Toronto (TSE-CAL; NASDAQ-CALVF) is pleased to announce that it has closed the transaction to acquire a 94.2% direct interest in Eersteling Gold Company Limited and a 50% indirect interest in Barbrook Mines Limited for a total consideration of $37.3 million. The Corporation purchased such interest for 3 million common shares and $2.8 million in cash or equivalent shares due seven months hence, Eersteling and Barbrook was purchased by Caledonia on December 13, 1994 at a cost of $ 11.8 million (see News Releases of December 14th and 22nd, 1994 for further details). Following the completion of the Fynegold Exploration Limited acquisition scheduled to close on January 26, 1995 (see News Release of January 18th, 1995) Caledonia will hold a mineral resource totalling 3.9 million ounces of gold. After completion of the above transactions Caledonia will have approximately 27.1 million shares on issue and cash reserves Cash reserves See: Cash investments cash reserves Investment funds that are held in short-term assets such as Treasury bills and certificates of deposit until more permanent investment opportunities are available. of about $16.1 million. CONTACT: D. S. MacLeod Mac·leod , John James Rickard 1876-1935. British physiologist. He shared a 1923 Nobel Prize for the discovery and successful clinical application of insulin. , Chairman or F.C. Harvey Harvey, city (1990 pop. 29,771), Cook co., NE Ill., a suburb S of Chicago; inc. 1895. Its manufactures include steel castings, metal products, chemicals, machinery, and electronic equipment. Harvey has an oil research center. The city was founded by Turlington W. , President 905/564-5213 905/564-5213 (Fax) INDUSTRY KEYWORD: MINING REPEATS: New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of 212-575-8822 or 800-221-2462; Boston 617-330-5311 or 80 |
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