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ASAMERA MINERALS RECEIVES PRIVATIZATION PROPOSAL

 ASAMERA MINERALS RECEIVES PRIVATIZATION PROPOSAL
 CALGARY, Alberta, May 13 /PRNewswire/ -- The board of directors of


Asamera Minerals Inc. (Toronto, Montreal: AUA) today announced that Asamera Inc. has submitted a proposal to privatize Asamera Minerals. Under terms of the proposal, all minority shareholders of Asamera Minerals will receive Cdn$1.40 per common share.
 The board plans to appoint a special committee of directors to evaluate the offer. The evaluation is expected to be completed in June and shareholders will receive an offering circular in the mail in advance of a special meeting of shareholders.
 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 per cent of Asamera Minerals' 25,132,000 common shares outstanding.
 -0- 5/13/92
 /CONTACT: Craig Langpap of Asamera Minerals, 403-233-4341/
 (AUA.) CO: Asamera Minerals Inc. ST: Alberta IN: MNG SU:


KJ -- LA016 -- 9670 05/13/92 12:16 EDT
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Publication:PR Newswire
Date:May 13, 1992
Words:198
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