LYON LAKE MINES LTD. ("LLL")
PALMER RESOURCES LTD. ("PMD")
NOTICE TYPE: Substitutional Listing
NOTICE DATE: February 11, 1999
The Vancouver Stock Exchange has been advised that the shares of Palmer Resources Ltd. have been exchanged for shares of Lyon Lake Mines Ltd., currently listed on the Montreal Exchange, in accordance with an Arrangement Agreement (the `Arrangement') dated December 22, 1998 which has been approved by the shareholders of both companies.
Pursuant to the Arrangement:
1. The issued and outstanding Lyon Lake shares shall be consolidated on the basis of two (2) Lyon Lake shares for one (1) new Lyon Lake share.
2. Palmer shall be continued under the CBCA under the name of Palmer Mineral Resources Ltd.
3. Each Palmer shareholder (other than dissenting shareholders) shall be entitled to Lyon Lake shares on the basis of one (1) new Lyon Lake share for each Palmer share.
Section: 2
Trading Symbol: LLL (new)
CUSIP* Number: 552031 50 2 (new)
Authorized Capital: Unlimited number of common shares, unlimited number of preferred shares
Issued and Outstanding: 38,687,925
Effective at the opening February 12, 1999, the shares of Palmer Resources Ltd. will be delisted and the consolidated shares of Lyon Lake Mines Ltd. will be listed, but will not commence trading, until Lyon Lake Mines Ltd.'s Plan of Arrangement is effective on the Montreal Exchange.
For further information refer to the Notices of Special General Meeting and Joint Management Information Circular dated December 29, 1998.
*Copyright 1998 American Bankers' Association; provided by Standard & Poor's, CUSIP Service Bureau, a division of The McGraw-Hill Companies, Inc.
________________________________________
|
|
