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SKYLINE GOLD CORP. ANNOUNCES REORGANIZATION IS COMPLETE

 VANCOUVER, British Columbia, July 7 /PRNewswire/ -- Ron Shon, chairman and chief executive officer of Skyline Gold Corp., announces that the reorganization is complete and it is anticipated that the plan of arrangement leading to two new publicly traded companies will become effective on July 20, 1993. The last trading day for Skyline Gold Corp. is anticipated to be July 13.
 It is anticipated that shareholders of Skyline Gold Corp. of record on July 13 will receive one share of International Skyline Gold Corp. and one share of Skycreek Minerals Inc. for every share of Skyline Gold Corp. owned. International Skyline Gold Corp. will have no debt and will own all the mining assets of Skyline Gold Corp. while Skycreek Minerals Inc. owes approximately $6 million in debt and retains approximately $44 million in tax pools. Skycreek has been in discussion and negotiation with several potential candidates recently and will make an announcement in this regard shortly.
 -0- 7/7/93
 /CONTACT: Rupert A. Legge, secretary of Skyline Gold, 604-683-6865/
 (SKX.)


CO: Skyline Gold Corporation; Skycreek Minerals Inc. ST: British Columbia IN: MNG SU:

LM-BP -- LA015 -- 9085 07/07/93 12:55 EDT
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Publication:PR Newswire
Date:Jul 7, 1993
Words:192
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