Southwestern Amends Share Purchase Program.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. , BC--(BUSINESS WIRE)--Aug. 27, 1999-- Southwestern Gold Corporation (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :SWG SWG abbr. standard wire gauge .) announces that it has amended a·mend v. a·mend·ed, a·mend·ing, a·mends v.tr. 1. To change for the better; improve: amended the earlier proposal so as to make it more comprehensive. 2. its Normal Course Issuer Bid accepted by the Toronto Stock Exchange Toronto Stock Exchange (TSE) Canada's largest stock exchange, trading approximately 1,200 company stocks and 33 options. on December 18, 1998. The Company has acquired approximately 472,100 shares of the 500,000 shares authorized Shares authorized The maximum number of shares of stock of a company allowed in the articles of incorporation, which may be changed only by a shareholder vote. See: Issued and outstanding. shares authorized See authorized capital stock. for acquisition pursuant to its present Issuer Bid and has amended its Issuer Bid by announcing its intention to acquire up to an additional 500,000 shares before December 22, 1999. If the Company acquires the entire 1,000,000 shares under the amended Issuer Bid, that would represent 9.63 percent of the public float of 10,381,080 shares of the Company. The Company currently has 15,298,280 shares issued and outstanding. The Company is limited, pursuant to the policies of The Toronto Stock Exchange on issuer bids, to purchase no more than 305,965 shares (2 percent of the shares outstanding) during any 30-day period. Each purchase made pursuant to the Normal Course Issuer Bid by the Company will be at a price that is not higher than the last independent trade of a board lot of common shares of the Company. Southwestern Gold Corporation presently has over 22 joint ventures with companies including Newmont, PanAmerican Silver, Teck, Pasminco, Paramount Ventures, Southern Peru Copper, Minorco, Cambior and Cedimin. The Company is exploring for diamonds in Brazil and Canada through its 54.7 percent owned subsidiary, Canabrava Diamond Corporation, in partnership with Kennecott/Paramount and SouthernEra. |
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