Sonora Diamond Corp. makes announcement.TORONTO--(BUSINESS WIRE)--April 15, 1997-- Sonora Diamond Corp. (SON: TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). , VSE See DOS/VSE. VSE - Virtual Storage Extended ) announced at its annual meeting today that shareholders approved a change in the name of the corporation to Sonora Diamond Corp. from Sonora Gold Corp. to more accurately reflect the new operations. Shareholders also voted 52% in favour of a five for one share consolidation which was short of the required 66%. Accordingly, there will be no share consolidation. Sonora also announced that the Supreme Court of Nevada The Supreme Court of Nevada is the highest judicial body in the Nevada state government. This is an elected position. The Chief Justice is elected by the members of the court each year. has allowed its appeal and a Writ of Prohibition writ of prohibition n. pl. writs of prohibition An order issued by a higher court commanding a lower court to cease from proceeding in some matter not within its jurisdiction. Noun 1. has been issued ordering that Sonora cannot be joined in an action filed in 1992 by Harvard Gold Mining Company. Diamond production at the Klipdam mine which began commercial production near the end of February is increasing. Production in March during the period of the new plant tune up totaled 259 carats. Mining was affected by unusually wet weather. Production for the first nine working days of April totaled 207 carats which is moving closer to forecast production of approximately 1,000 carats per month, Since the beginning of March, production has included an 18 carat rape yellow and a 12 carat white gemstone gemstone Any of various minerals prized for beauty, durability, and rarity. A few noncrystalline materials of organic origin (e.g., pearl, red coral, and amber) also are classified as gemstones. . The Company also announced it has negotiated an option to acquire a producing property adjoining the Company's Klipdam mine. Sale prices of diamonds continue to average about US $600 per carat. CONTACT: Patrick D. Downey Chairman (416) 362-2090 or Robert C. Bartlett President & CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. UK Representative office 44-1-400-250-195 |
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