Dayak Goldfields Corporation Announces the Approval of Amalgamation Between Dayak and Keno Industries Inc.TORONTO--(BUSINESS WIRE)--May 31, 1996--DAYAK GOLDFIELDS n. 1. A small slender woolly annual (Lasthenia chrysostoma) with very narrow opposite leaves and branches bearing solitary golden-yellow flower heads; it grows from Southwestern Oregon to Baja California and Arizona; - it is often cultivated. CORP. Dayak Goldfields Corporation ("Dayak") and Keno Industries Inc. ("Keno") announced today that their shareholders have approved the amalgamation amalgamation /amal·ga·ma·tion/ (ah-mal´gah-ma´shun) trituration (3). amalgamation ( (the "Amalgamation") of Dayak and Keno and their continuance as one corporation under the name Dayak Goldfields Corporation ("Amalco"). Articles of Amalgamation were filed with the Minister of Consumer and Commercial Relations on Friday, May 31, 1996, with an effective date of June 1, 1996. Trading on the Canadian Dealing Network Canadian Dealing Network (CDN) The organized OTC market of Canada. Formerly known as the Canadian Over-the-Counter Automated Trading System (COATS), the CDN became a subsidiary of the Toronto Stock Exchange in 1991. is expected to commence on Monday, June 3, 1996, with the symbol "DAYK". Keno shareholders will receive one common share of Amalco (representing in aggregate approximately 3.6 percent of the outstanding common shares) for every three shares of Keno. Shareholders of Dayak, including subscribers under the private placements, received the remaining common shares of Amalco. Following completion of the Amalgamation, the company will have approximately 17,860,117 common shares issued and outstanding. Dayak has recently completed private placements through the issue of 5,375,000 common shares for US$5,375,000 and a subsequent private placement of 2,500,000 additional common shares for US$5,000,000. C. M. Oliver & Company Limited acted as agent in connection with these private placements. Dayak, through its subsidiaries, is engaged in the exploration and development of gold projects in the province of Kalimantan, in the Republic of Indonesia. Dayak holds a 100 percent interest in eight applications for Contracts of Work in Kalimantan totalling 1.44 million hectares. Dayak also holds a 20 percent free carried interest in 15 applications for Contracts of Work totalling 3.16 million hectares. International Pursuit Corporation ("IPC (1) (InterProcess Communication) The exchange of data between one program and another either within the same computer or over a network. It implies a protocol that guarantees a response to a request. "), a public Ontario company, holds the 80 percent joint venture interests in these Contracts of Work. Dayak has carried out a systematic interpretation of satellite imagery Satellite imagery consists of photographs of Earth or other planets made from artificial satellites. History The first satellite photographs of Earth were made August 14, 1959 by the US satellite Explorer 6. and remote sensing Deriving digital models of an area on the earth. Using special cameras from airplanes or satellites, either the sun's reflections or the earth's temperature is turned into digital maps of the area. to locate structural target areas. Low level air reconnaissance Noun 1. air reconnaissance - reconnaissance either by visual observation from the air or through the use of airborne sensors reconnaissance, reconnaissance mission - the act of reconnoitring (especially to gain information about an enemy or potential enemy); "an has located important resistant silica anomalies and altered Sintang intrusions. Field teams to sample these anomalies, as well as known gold occurrences on the properties, are being mobilized during the next month. CONTACT: Dayak Goldfields Corporation Stephen Dattels, 416/947-9216 or Dayak Goldfields Corporation Bill Burton, 416/947-9216 |
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