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METALL ACQUIRES CONTROL OF MINNOVA

 METALL ACQUIRES CONTROL OF MINNOVA
 TORONTO, Oct. 20 /PRNewswire/ -- Kerr Addison Mines Limited and


Metall Mining Corporation jointly announced the completion yesterday of the sale by Kerr Addison of its 7,248,996 shares of Minnova Inc. to Metall. The purchase price for the 50.4 percent controlling interest is a minimum of $18.10 and a maximum of $18.85 per Minnova share, depending on Minnova's 1992 net income, for a total price not to exceed $136.6 million.
 Metall's present intention is to limit its investment in Minnova to this transaction.
 -0- 10/20/92
 /CONTACT: Andre Y. Fortier, president and chief executive officer of Kerr Addison Mines Limited (Toronto), 416-982-7071; or Stefan A. Garber, vice-president/secretary and general counsel of Metall Mining Corporation (Toronto), 416-361-6400/
 (MLM.) CO: Metall Mining Corporation; Kerr Addison Mines Limited ST: Ontario IN: MNG SU: TNM


AH -- NY022 -- 2041 10/20/92 09:12 EDT
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Copyright 1992 Gale, Cengage Learning. All rights reserved.

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Publication:PR Newswire
Date:Oct 20, 1992
Words:152
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