Thistle Announces Sale of Investment in Mines de la Lucette.Business Editors TORONTO--(BUSINESS WIRE)--Feb. 22, 2001 THISTLE thistle, popular name for many spiny and usually weedy plants, but especially applied to members of the family Asteraceae (aster family) that have spiny leaves and often showy heads of purple, rose, white, or yellow flowers followed by thistledown seeds (a favorite (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :THT THT The Hardball Times (baseball website) THT Terrence Higgins Trust (UK HIV/AIDS charity) THT Through Hole Technology THT The Human Touch THT Technische Hogeschool Twente .) William McLucas, President of Thistle Mining Inc., is pleased to announce that Thistle's wholly-owned French subsidiary, Compagnie Internationale de Developpement Minier ("CIDEM CIDEM Center for Inherited Disorders of Energy Metabolism "), has sold its shareholding in Mines de la Lucette S.A, representing 78% of the equity of the company. This completes CIDEM's withdrawal from the business, following the sale by Mines de la Lucette of the land, plant and working capital involved in the production of antimony-based flame retardants in January 2001. Total proceeds for CIDEM of the transactions, including the repayment of loans, are expected to amount to approximately French Francs 11.5 million (C$2.4 million). The proceeds will be used to fund ongoing operations and business development within the Thistle group. The purchaser of the shares will extend an offer on the same terms to minority shareholders in Mines de la Lucette, which is listed on the Paris Bourse Paris Bourse National stock market of France. . Mr. McLucas commented: "The sale is a significant development for Thistle because it enables management to concentrate on our core gold mining activities." |
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