Printer Friendly

CAMFREY RESOURCES LTD. PROVIDES AGREEMENT UPDATE

 VANCOUVER, British Columbia, Jan. 4 /PRNewswire/ -- Camfrey Resources Ltd. (Vancouver: CFB) recently renewed its Oct. 14, 1988, United States Royalty and Distributorship Agreement (the "U.S. Agreement") with Clearly Canadian Beverage Corp. (NASDAQ-NMS: CLCDF) (CCBC) for a further term of five years. On Dec. 31, 1992, it received notice from CCBC that CCBC intends to exercise its right to terminate the U.S. Agreement by paying a "Royalty Termination Allowance" within 90 days of the notice. The notice goes on to advise that CCBC will forthwith proceed with the calculation of that allowance. Under the U.S. Agreement, the allowance is an amount equal to five times the "average annual royalty," being the arithmetic average of the last two years of royalties in the current term of the U.S. Agreement.
 -0- 1/4/93
 /CONTACT: Gunnar Vogel, president of Camfrey Resources, 604-436-5876/
 (CLCDF CFB.)


CO: Camfrey Resources Ltd.; Clearly Canadian Beverage Corp. ST: British Columbia IN: FOD SU:

JB -- LA018 -- 1430 01/04/93 16:39 EST
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Jan 4, 1993
Words:168
Previous Article:CHECKERS DRIVE-IN RESTAURANTS COMMENTS ON COMPLAINTS FILED BY FRANCHISEES
Next Article:FOUR LAW ENFORCEMENT AGENCIES IN CALIFORNIA SELECT MD 520N, WORLD'S QUIETEST HELICOPTER, FOR PATROL DUTIES


Related Articles
EL CONDOR RESOURCES LTD. UPDATES CORPORATE AFFAIRS
VANCOUVER STOCK EXCHANGE - COMPANY MEETING DATES MEETINGS FROM OCTOBER 2, 1992 TO NOVEMBER 1, 1992
CLEARLY CANADIAN BEVERAGE CORP. ANNOUNCES ROYALTY AND DISTRIBUTION AGREEMENT TERMINATED
CLEARLY CANADIAN BEVERAGE CORP. ANNOUNCES PAYMENT OF ROYALTY TERMINATION ALLOWANCE TO CAMFREY RESOURCES LTD.
CLEARLY CANADIAN BEVERAGE CORP. AND BRIO INDUSTRIES INC. REACH SETTLEMENT OF ARBITRATION ON DISTRIBUTION
Joint Operations Agreement for Resource Development in ML111.
Amerigo sells strategic stake in Chariot Resources Limited for $24.1 million, representing a gain of $9.68 million.
CENTRAL CHINA GOLDFIELDS PLC - Majestic Option Agreement.
GULSF, AA and NSU Update the Investment Community in All-New Interviews With WallSt.net.
U.S. Energy Corp., Crested Corp. and U.S. Moly Corp. Sign Exploration, Development and Mine Operating Agreement With Kobex Resources Ltd.

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters