Uniterre Resources Sells Interest in Continental Energy.VANCOUVER, B.C.--(BUSINESS WIRE)--OCTOBER 18, 1995--UNITERRE RESOURCES LTD LTD 1 Laron-type dwarfism 2 Leukotriene D 3 Long-term depression, see there 4. Long-term disability (Alberta Stock Exchange Alberta Stock Exchange See Canadian Venture Exchange (CDNX). :UNT) Michael H. Altman, President of Uniterre Resources Ltd. (the "Company"), announced today that the Company has, on the advice of the management of Continental Energy Marketing Ltd. ("Continental"), sold its interest in Continental to ANGC ANGC Augusta National Golf Club ANGC Ashling Nurseries and Garden Care (UK horticultural service) Corporation, a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of Panhandle Eastern Corporation for an aggregate consideration of approximately $106,000. Effective October 1, 1995, ANGC Corporation acquired all of the issued shares of Continental. The consideration received by the Company is comprised of approximately $81,000 in cash and the balance in common shares of Panhandle Eastern Corporation which trades on the New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. . Mr Altman also advised that the Company has issued 43,750 common shares of the Company to Welsh & Co. Ltd. of Calgary as the balance of the commission due and payable in connection with the sale of the Company's oil and gas assets to Clarinet Resources Ltd., of Calgary. In addition, Mr. Altman reported that the Company has issued 46,296 common shares to each of Messrs. Donald Hales and Louis P. Starck in connection with their guarantee of the Company's debt to Lodestar Industrial Associates Ltd. -0- ON BEHALF OF THE BOARD OF DIRECTORS OF UNITERRE RESOURCES LTD. Per: MICHAEL H. ALTMAN, PRESIDENT CONTACT: Michael H. Altman President 604/685-5853 |
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