Canmex Signs Letter of Intent for a Business Combination with Laminco Resources Ltd. and Ican Minerals Ltd.VANCOUVER, British Columbia--(BUSINESS WIRE)--Aug. 21, 1997-- LAMINCO RESOURCES INC inc - /ink/ increment, i.e. increase by one. Especially used by assembly programmers, as many assembly languages have an "inc" mnemonic. Antonym: dec. . ("Laminco") (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :LMR), ICAN ICAN International Cesarean Awareness Network Inc ICAN Integrated Composite Application Network (SeeBeyond) ICAN Institute of Chartered Accountants of Nigeria ICAN Idaho Community Action Network MINERALS LTD LTD 1 Laron-type dwarfism 2 Leukotriene D 3 Long-term depression, see there 4. Long-term disability . ("Ican") (TSE:IMI) and CANMEX MINERALS CORPORATION ("Canmex") (VSE See DOS/VSE. VSE - Virtual Storage Extended :CMX) are pleased to announce that they have signed a letter of intent for a business combination of the three companies. The business combination is subject to approval of their respective boards and shareholders, appropriate regulatory approval, to the conclusion of final due diligence of each of the companies and to the execution of a formal agreement. Under the proposed business combination, Laminco, Ican and Canmex will form a new Toronto Stock Exchange listed company ("Newco") with experienced management and a broad asset base in Mexico and the United States Relations between the United States and Mexico are among the most important and complex that each nation maintains. They are shaped by a mixture of mutual interests, shared problems, and growing interdependence. . It is proposed that the shareholders of each of Laminco, Ican and Canmex would receive 0.4 Newco share for each fully diluted common share held in the respective companies. The proposed transaction also provides for an equity financing of CDN (Content Delivery Network) A system of distributed content on a large intranet or the public Internet in which copies of content are replicated and cached throughout the network. $5 million in order that Newco will have in excess of CDN$10 million in working capital. Upon completion of the business combination, Newco will have an extensive portfolio of precious and base metals exploration, development and near term production projects, substantial financial resources to accelerate development of existing proven assets and the ability to seek growth opportunities by acquisition. Combined near term annual production in excess of 150,000 ounces of gold and 16 million pounds of copper cathode are under development on existing projects. The three companies intend to proceed expeditiously to complete the transaction. LAMINCO RESOURCES INC. Edwin Morrow, President ICAN MINERALS LTD. Archie Nesbitt, President CANMEX MINERALS CORP. Lukas H. Lundin, President -0- Note to Editors: The Toronto and Vancouver Stock Exchanges have not reviewed and does not accept responsibility for the adequacy or accuracy of this release. CONTACT: Laminco Resources Inc. Peter Maynes, 888/665-6877 702/322-2955 (FAX) or Ican Minerals Ltd. Archie Nesbitt, 403/232-6829 403/232-6463 (FAX) or Ican Minerals Ltd. Raju Wani, 403/232-6829 403/232-6463 (FAX) or Canmex Minerals Corporation Sophia Shane, 604/689-7842 604/689-4250 (FAX) |
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