Global Explorations Inc. Issues Announcement.VANCOUVER, BC--(BUSINESS WIRE)--Nov. 22, 1999-- Global Explorations Inc. (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. :GXXP) has received information that Rakesh Saxena Rakesh Saxena (born July 13, 1952 Indore, Madhya Pradesh, India) is an Indian financierand trader in the little-known derivatives marketplace. As of June 2007, he is still engaged in a lengthy fight to avoid extradition to [Thailand] from [Canada]; he is accused of embezzlement in (Tidewater Management Corporation and other entities) has, as of today's date, acquired 2,206,050 common shares of the Company via a tender offer in which these shares were exchanged for shares held earlier in Global Explorations Corporation, a company incorporated in the province of British Columbia British Columbia, province (2001 pop. 3,907,738), 366,255 sq mi (948,600 sq km), including 6,976 sq mi (18,068 sq km) of water surface, W Canada. Geography . In addition, Rakesh Saxena exercises voting direction over 406,500 common shares of the Company via an option agreement. Saxena, as a beneficial owner Beneficial Owner A person who enjoys the benefits of ownership even though title is in another name. Notes: For example, when shares of a mutual fund are held by a custodian bank or when securities are held by a broker in street name, the true owner is the beneficial , now beneficially owns, or exercises control over a total of 2,612,550 common shares of the Company, representing approximately 22.50% of the voting securities of the Company. As a result of the acquisition of the above common shares a report under Section 111 will be filed separately by Saxena with the British Columbia Securities Commission The British Columbia Securities Commission (BCSC) is a regulatory agency which administers and enforces securities legislation in the Canadian province of British Columbia. External links
ON BEHALF OF THE BOARD OF GLOBAL EXPLORATIONS INC. "Allison Eaton" Allison Eaton, President |
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