| To: philip trigiani who wrote (129) | 4/25/1998 1:24:00 PM | | From: philip trigiani | | | |
-Preview-
Quebec securities commission approves SGV/KWG restructuring plan. Conditions
which were brought up during the meeting was that prospectus's be forwarded to all
shareholders in regards to the new shares being issued to creditors for debt. Gauthier
says these condtions will be met. Creditor meeting still set for April 30,1998.
All creditors are said to be on side for a complete resolution to the restructuring plan.
Gauthier also mentions, that the rights offering plan has a guarantor backup for the
financing.
Looks like Gauthier pulled this one out from under his hat. In the end SGV/KWG will
be a stronger company, with focused assets and good projects, cash in the bank, and
no debts and POG up around $315.
Of course we have diluted holdings, and Gauthier gains more control through
SGV/KWG's direct and indirect holdings in both companies.
Next will be relisting on TSE/ME, my guess is the shares of SGV/KWG should start to
retrade up around the restructuring prices .20 and .40 respectively. If they then
announce a successful rights offering, further financing/joint venture partners, to
proceed with projects, we could see the prices move up from there. But, getting
anywhere near the $1 and $4 respectively, is way out there.
Trading opportunities will abound as the prices will be very volatile, look to regain
some loses by flipping in and out over the next year. Good luck to all!
All IMHO! I'm in deep myself with both these !@#$%^&* dogs.
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| To: philip trigiani who wrote (130) | 4/30/1998 8:26:00 PM | | From: philip trigiani | | | |
Attention Business/Financial Editors:
CREDITORS OF ST. GENEVIEVE AND KWG ACCEPT PLANS OF ARRANGEMENT
MONTREAL, April 30 /CNW/ - St. GeneviŠve Resources Ltd.
(''St-GeneviŠve'') and KWG Resources Inc. (''KWG'') (collectively, the
''Companies'') announced today that their creditors have voted, at the
creditors' meetings held this morning, in favour of their respective plans of
arrangement filed under the ''Companies' Creditors Arrangement Act.'' In the
case of St. GeneviŠve, nine classes of creditors voted unanimously and one
class voted with a 98% majority. In the case of KWG, seven classes of
creditors voted unanimously and one class voted with a 99% majority.
The plans of arrangement have as their main objective the sharpening of
the Companies' focus on key projects and the generating of sufficient funds to
continue operations. Also, they provide for the issuance of treasury shares by
the Companies in repayment of certain debts owing by each; however, the shares
to be so issued may only be issued in trust to the Monitor appointed under
their respective plans of arrangement who may in turn only release such shares
to the creditors upon the clearance by each of St-GeneviŠve and KWG,
respectively, with the Quebec Securities Commission of a prospectus qualifying
their issuance.
The Companies are now largely debt free and, subject to regulatory
approval, will launch rights issues pursuant to which each company shall issue
to its respective shareholders rights to subscribe to additional shares in its
capital stock. Negotiations with various parties are underway with a view to
backstopping all or part of these rights issues.
The rights issues, should they be fully subscribed, will generate gross
proceeds to the Companies of approximately $20 million, i.e. $8 million for
St. GeneviŠve and $14 million for KWG. These funds will be used to develop the
Companies' projects, to settle current indebtedness and for working capital.
The shareholders' meetings of the Companies and the special shareholders'
meeting of Emerging Africa Gold (EAG) Inc. which were adjourned on April 14,
1998, will be reconvened at 10:00 a.m. on May 13, 1998, at 630 Ren‚-L‚vesque
Blvd. West, 16th Floor, Montreal, Quebec, Canada, H3B 1S6, in order that they
may be formally terminated.
St. GeneviŠve and KWG are mining exploration companies currently trading
(without quotation) on CDN under the symbols SGVE and KWGR. St. GeneviŠve and
KWG have respectively 86,086,233 and 36,036,070 issued and outstanding shares.
NO REGULATORY AUTHORITY HAS APPROVED NOR DISAPPROVED
THE CONTENT OF THIS PRESS RELEASE
-0- 04/30/98
For further information: Mary Peschka, St. GeneviŠve Resources Ltd., (416) 941-8709 or Jacques Rossignol, Lapointe Rosenstein, (514) 925-6336
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| To: Perry who wrote (134) | 8/7/1998 9:35:00 AM | | From: RWJ | | | |
At .02/share, it looks like it's ready to die.
Have you been in contact with SGV management???
I apologize, I've been waiting for someone else to generate some interest in this 'dog'.
The Gauthier group seem quiet on this. I'm wondering if there remains interest in their Russian gold property.
Regards, |
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| To: Jordan Electron who wrote (136) | 10/20/1998 6:48:00 PM | | From: philip trigiani | | | |
Attention Business/Financial Editors:
Resources St. Genevieve Ltd. - $800,000 financing and sale of non-core assets
St. Genevieve Resources Ltd.
ME/TSE : SGV
CDN : SGVE
MONTREAL, QUEBEC - October 20, 1998 - St. Genevieve Resources Ltd.
(''SGV'') is pleased to announce the closing of $800,000 in financing and the
completion of sale of most of its non-core assets.
Private Placements
------------------
After receiving approval from the Quebec Securities Commission (''QSC'')
on August 7, 1998, SGV closed nearly $800,000 in financing. The financing
consisted of a $0.5 million third party loan as well as a $300,000 private
placement.
Pursuant to this placement, SGV issued 3,000,000 units at $0.10 per unit.
Each unit is comprised of one common share and one common share purchase
warrant. Each purchase warrant is exercisable for a period of 18 months
following its issuance, at a price of $0.115 for the first six months and
$0.13 for the following twelve months.
The proceeds of the combined financings were used to repay all cash
creditors under C-36 and part of SGV's line of credit.
Sale of Non-Core Assets
-----------------------
Throughout the restructuring process, SGV was able to maintain its key
projects and dispose of its non-core assets, namely Ambrex Mining Corporation
and Icelandic Gold Corporation.
Prospectus/Rights Issue
-----------------------
In accordance with its Plan of Arrangement filed under the Companies'
Creditors Arrangement Act and in keeping with orders of the QSC, SGV has
submitted a draft prospectus to the QSC and a preliminary prospectus to other
provincial securities regulatory bodies for the purpose of qualifying several
issues, including the issuance of shares to creditors in settlement of debt
and the issuance of shares related to the rights offering. These offerings are
subject to regulatory approval.
In the event that a receipt for the final prospectus is issued, SGV will
launch a rights issue with a view to raising adequate funds to further develop
its projects, to reimburse a third party loan and as working capital.
SGV is a mining exploration company currently trading (without quotation)
on the Canadian Dealing Network Inc. (CDN) under the symbol SGVE. SGV has
229,968,536 issued and outstanding common shares (including shares to be
distributed to creditors).
NO REGULATORY AUTHORITY HAS APPROVED OR DISAPPROVED THE CONTENT OF THIS
PRESS RELEASE.
-0- 10/20/1998
For further information: Mary Peschka, (416) 941-8709
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| To: philip trigiani who wrote (137) | 2/16/1999 6:38:00 PM | | From: philip trigiani | | | |
Attention Business/Financial Editors:
Debt Settlement With Genoil Inc.
ST. GENEVIEVE RESOURCES LTD.
CDN : SGVE
MONTREAL, Feb. 16 /CNW/ - St. Geneviève Resources Ltd. (''SGV'') SGV is
pleased to announce the settlement of 5.9MM$ of debt owing to Genoil Inc., an
arm's length party, which was due April 1, 1999 in the following manner:
1. The issue of a 1.4MM$ debenture convertible into shares of SGV at a
price $0.20. The debenture will be convertible at the option of SGV
and will convert automatically on December 31, 1999. The debenture
will pay interest at the rate of 8% per annum, payable either in cash
or in shares of SGV at the option of SGV.
2. The issue of a 3.2MM$ debenture exchangeable into shares of KWG
Resources Inc. (''KWG'') at a price $0.40. The debenture will be
exchangeable at the option of SGV, and will be exchanged automatically
on December 31, 1999. The debenture will pay interest at the rate of
8% per annum, payable either in cash or in shares of KWG at the option
of SGV.
3. A private placement of shares of SGV in the amount of $450,000, at a
price of $0.10 per share.
4. SGV has sold to a third party 5,280,000 shares of Genoil Inc. for
proceeds of $528,000, which proceeds have been applied to the debt
settlement.
5. A balance of $450,000 is payable from the proceeds of SGV's Rights
Offering on the basis of $0.50 out of every $1.00 raised in excess of
$992,317. Any amount unpaid will be owed to Genoil Inc. at the latest
on December 31, 1999. This amount will bear interest at the rate of
8% per annum.
The above debt settlement is subject to SGV obtaining the necessary
regulatory approvals, including the approval of the Quebec and Ontario
Securities Commissions for the final settlement of its reorganization plan, by
no later than March 1st, 1999.
SGV is a mining exploration company currently trading (without quotation)
on the Canadian Dealing Network Inc. (CDN) under the symbol SGVE. SGV has
232,735,769 issued and outstanding common shares (including shares to be
distributed to creditors).
NO REGULATORY AUTHORITY HAS APPROVED NOR DISAPPROVED
THE CONTENT OF THIS PRESS RELEASE
-0- 02/16/1999
For further information: Denis Villeneuve, (514) 866-6001
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