Chase Resource shareholders approve Magma Copper subscription.VANCOUVER Vancouver, city, Canada Vancouver, city (1991 pop. 471,844), SW British Columbia, Canada, on Burrard Inlet of the Strait of Georgia, opposite Vancouver Island and just N of the Wash. border. , British Columbia--(BUSINESS WIRE)--Nov. 17, 1995--At an Extraordinary General Meeting of Chase Resource Corp. held on Nov. 16, 1995, shareholders approved the private placement and property option agreements announced by the company on Oct. 10, 1995. Under the terms of the agreements, Magma Copper Co. will acquire 2,500,000 common shares of Chase at $2.50 per share for total proceeds to the company of Cdn.$6,250,000. Further, Magma will pay to the company an option fee of U.S.$1,000,000 to acquire rights to earn 51 percent interests in the company's Taysan Copper/Gold Project in the Philippines Philippines officially Republic of the Philippines Island country, western Pacific Ocean, on an archipelago off the southeast coast of Asia. Area: 122,121 sq mi (316,294 sq km). Population (2005 est.): 84,191,000. and other Chase mineral projects. Completion of the transactions with Magma remain subject to completion of formal agreements and approval of The Toronto Stock Exchange Toronto Stock Exchange (TSE) Canada's largest stock exchange, trading approximately 1,200 company stocks and 33 options. . Shareholders also approved a resolution authorizing the company to issue new shares during the next 12 months, up to a maximum of the equivalent of 100 percent of the number of shares currently issued and outstanding, by way of private placements to arm's length arm's length adj. the description of an agreement made by two parties freely and independently of each other, and without some special relationship, such as being a relative, having another deal on the side or one party having complete control of the other. subscribers. All such new issues to be on terms acceptable to The Toronto Stock Exchange. CONTACT: Ian Rozier or Michael Michael, archangel Michael (mī`kəl) [Heb.,=who is like God?], archangel prominent in Christian, Jewish, and Muslim traditions. In the Bible and early Jewish literature, Michael is one of the angels of God's presence. Callahan, 604/685-6851 1-800-510-8566 |
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