Chase Resource & Delta Gold Mining Corp. Shareholders Approve Amalgamation.VANCOUVER, British Columbia--(BUSINESS WIRE)--April 28, 1997-- Chase Resource Corporation(TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). CQS CQS See Consolidated Quotation System (CQS). .) Delta Gold Mining Co(VSE See DOS/VSE. VSE - Virtual Storage Extended DTG DTG Date-Time Group DTG Digital Television Group (UK trade association) DTG Distance To Go DTG Days To Go DTG Digital Transmission Group DTG Direct Trunk Group DTG Digital Trunk Group DTG Dance Theatre of the Gospel .) Mr. Ian Rozier, President of Chase Resource Corporation and Delta Gold Mining Corporation, is pleased to announce that the shareholders of both companies have overwhelmingly approved special resolutions to amalgamate the two into a new company that will retain the name of Chase Resource Corporation. At the annual shareholder's meeting held April 25, 1997, the plan of amalgamation proposed by the directors of both companies was accepted. This plan entails the combination of Chase and Delta on the basis of one old Chase share for each share of the new amalgamated a·mal·ga·mate v. a·mal·ga·mat·ed, a·mal·ga·mat·ing, a·mal·ga·mates v.tr. 1. To combine into a unified or integrated whole; unite. See Synonyms at mix. 2. company and two Delta shares for each share of the new company. Directors of the amalgamated company elected by the shareholders are Ian T. Rozier, Michael P. Callahan, Douglas B. Hyndman, Kenneth Lee Browne II and Paul A. Ray. At a director's meeting following the shareholder meetings officers of the new company were appointed. These are: Ian T. Rozier, President and Chief Executive Officer; Michael P. Callahan, Vice-President and Chief Financial Officer; and Kim C. Casswell, Corporate Secretary. The amalgamation of Chase and Delta will become effective following final regulatory approvals and an order affirming the arrangement from the Supreme Court of British Columbia The Supreme Court of British Columbia (SCBC) is the superior trial court for the Canadian province of British Columbia. The SCBC hears civil and criminal law cases as well as appeals from the Provincial Court of British Columbia. . With the combination of Chase and Delta approved, Mr. Rozier noted that the new company will benefit from the consolidation and rationalization of both company's assets in Indonesia and the Philippines. These combined assets make the amalgamated Chase Resource Corporation a major player in the southeast Asia Southeast Asia, region of Asia (1990 est. pop. 442,500,000), c.1,740,000 sq mi (4,506,600 sq km), bounded roughly by the Indian subcontinent on the west, China on the north, and the Pacific Ocean on the east. region with 77.5% control of the Cikondang Gold Mine in West Java, Indonesia and over twenty advanced exploration projects in the Philippines. CONTACT: Chase Resource Corporation Ian T. Rozier, 604/ 685-6851 or Delta Gold Mining Corporation Ian T. Rozier, 604/ 685-6851 |
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