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VERONEX ANNOUNCES THE CANCELLATION OF ANNUITIES & DEBENTURES

 VERONEX ANNOUNCES THE CANCELLATION OF ANNUITIES & DEBENTURES
 VANCOUVER, British Columbia, Nov. 3 /PRNewswire/ -- Further to International Veronex Resources Ltd.'s (AMEX: VX.WI, VSE: IVX) news release of July 31, 1992, the company has been advised by legal counsel it is in the company's best interest to withdraw their submission to the Vancouver Stock Exchange of the five year annuity in exchange for a convertible debenture. The debenture was to be convertible into 300,000 shares in the capital stock of the company.
 A subsequent news release dated Aug. 28, 1992 announced an additional five year annuity in exchange for a convertible debenture, also convertible into 300,000 shares in the capital stock of the company.
 Both of the annuities for $2,000,000 (US) each, for a total sum of $4,000,000 (US), along with the convertible debentures of $2,000,000 (US) each, which were announced in the company's news releases dated July 31, 1992 and Aug. 28, 1992 will be cancelled.
 International Veronex Resources Ltd. does not satisfy fully the requirements for continued listing on the American Stock Exchange and there can be no assurance that its listing will continue.
 The Vancouver Stock Exchange has neither approved nor disapproved this news release.
 -0- 11/3/92
 /CONTACT: David Wooldridge of International Veronex Resources Ltd., 310-861-0383/
 (VX.WI IVX) CO: Veronex Resources Ltd. ST: IN: AIR SU:


BM -- CL008 -- 2135 11/03/92 15:00 EST
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Publication:PR Newswire
Date:Nov 3, 1992
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