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GRQ Investments Inc. to Acquire Further Class A Common Shares of Snow Leopard Resources Inc.

CALGARY, ALBERTA--(BUSINESS WIRE)--Oct. 14, 1997--Snow Leopard Resources (TSE, Alberta Stock Exchange SNW.A.)--GRQ Investments Inc. announces that it has agreed to acquire from three parties an aggregate of 1,092,800 Class A common shares and 307,700 Class B Subordinate Voting shares of Snow Leopard Resources Inc. ("Snow Leopard") for cash consideration of $1.00 per share. The transaction is to close on or before October 16, 1997.

GRQ and Lauchlin A. Lyons act jointly or in concert under applicable securities laws with respect to ownership of common shares of Snow Leopard. These parties currently hold an aggregate of 7,583,048 Class A common shares of Snow Leopard (23.27 percent of the currently outstanding Class A common shares) warrants/options to acquire a further 811,546 Class A common shares of Snow Leopard; and 461,700 Class B Subordinate Voting Shares (33.11 percent of the currently outstanding Class B Subordinate Voting Shares).

GRQ is acquiring the Class A common shares of Snow Leopard in order to increase its ownership position. -0- The Alberta Stock Exchange has neither approved nor disapproved the information contained herein.

CONTACT: GRQ Investments Inc.

Lauchlin A. Lyons, 403/265-4377
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Publication:Business Wire
Date:Oct 14, 1997
Words:200
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