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ASAMERA BOARD COMMITTEE AGREES PRIVATIZATION PROPOSAL IS FAIR

    ASAMERA BOARD COMMITTEE AGREES PRIVATIZATION PROPOSAL IS FAIR
    CALGARY, Alberta, June 15 /PRNewswire/ -- 1992 Q A special committee of the Asamera Minerals Inc. (Toronto, Montreal: AUA) board of directors has evaluated Asamera Inc.'s proposal to privatize the company.  The three-member committee unanimously agreed that the offer to minority shareholders of Cdn$1.40 per common share was fair and recommended its acceptance to the board.  The board has accepted the recommendation.
    An offering circular will be mailed this month to shareholders of record at the close of business on June 12, 1992.  There will then be a special shareholders meeting to consider the privatization proposal.  The meeting is scheduled for 10 a.m. Friday, July 17, 1992, in the Lakeview Room of the Westin Hotel in Calgary.
    Asamera Minerals is a publicly traded Canadian firm engaged in the exploration for and production of gold and silver.  The company's principal assets include its 51 percent interest in the Cannon Mine in Wenatchee, Wash., and exploration properties in the United States and northern Canada.
    Asamera Inc., which is wholly owned by Gulf Canada Resources Ltd. of Calgary, Alberta, currently owns 91.74 percent of Asamera Minerals' 25,131,578 common shares outstanding.
    -0-                        6/15/92
    /CONTACT:  Craig Langpap of Asamera Minerals Inc., 403-233-4341/
    (AUA.) CO:  Asamera Minerals Inc. ST:  Alberta IN:  MNG SU: KJ -- LA021 -- 0253 06/15/92 14:45 EDT
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Publication:PR Newswire
Date:Jun 15, 1992
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