Thistle Mining's French subsidiary CIDEM, completes the sale of its 57.7% Stake in Eurasia Gold Corp for US$ 5.1 million
TORONTO, July 28 /CNW Telbec/ - (TSX: THT), (AIM: TMG) The Board of
directors of Thistle Mining are pleased to announce that CIDEM, a wholly
owned French subsidiary of Thistle, has sold their entire holding of
68,269,253 common shares of Eurasia Gold Corporation, representing 57.7% of
the issued equity, at a price equivalent to CAN$ 0.10 per share.
The consideration comprises US$ 3.5 million in cash and US$ 1.6 million
in shares (approximately 2% of the issued shares) of Charaltyn, a gold mining
and exploration company, which is listed on the Kazakhstan Stock Exchange. In
addition, CIDEM and Charaltyn have agreed a 25% participation agreement; by
CIDEM, at its option, on any new gold exploration and mining projects acquired
by Charaltyn, effective until 31 December 2005. CIDEM looks forward to working
with Charaltyn in the future.
The cash proceeds will be used for working capital purposes in the group.
The buyer of the stake is TKA Corporation, one of the principal
shareholders of Charaltyn, a publicly listed Joint-Stock Company, which is led
by Mr Baltabek Mukashev, a former director of Eurasia Gold Corporation.
www.newswire.ca/en/releases/archive/July2004/28/c6606.html
Eurasia Gold Corp. EGX:TSX-V Toronto Stock Exchange
www.tse.com/...edPrices&Language=en&QuoteSymbol_1=egx&x=23&y=1
www.ivarkreuger.com/gold.htm
Eurasia Gold Corp
Suite 2215 - 120 Adelaide Street West
Toronto, Ontario, Canada M5H 1T1
Phone: 416.504.2899, Fax: 416.504.2729
www.eurasiagold.com/
MfG,
TORONTO, July 28 /CNW Telbec/ - (TSX: THT), (AIM: TMG) The Board of
directors of Thistle Mining are pleased to announce that CIDEM, a wholly
owned French subsidiary of Thistle, has sold their entire holding of
68,269,253 common shares of Eurasia Gold Corporation, representing 57.7% of
the issued equity, at a price equivalent to CAN$ 0.10 per share.
The consideration comprises US$ 3.5 million in cash and US$ 1.6 million
in shares (approximately 2% of the issued shares) of Charaltyn, a gold mining
and exploration company, which is listed on the Kazakhstan Stock Exchange. In
addition, CIDEM and Charaltyn have agreed a 25% participation agreement; by
CIDEM, at its option, on any new gold exploration and mining projects acquired
by Charaltyn, effective until 31 December 2005. CIDEM looks forward to working
with Charaltyn in the future.
The cash proceeds will be used for working capital purposes in the group.
The buyer of the stake is TKA Corporation, one of the principal
shareholders of Charaltyn, a publicly listed Joint-Stock Company, which is led
by Mr Baltabek Mukashev, a former director of Eurasia Gold Corporation.
www.newswire.ca/en/releases/archive/July2004/28/c6606.html
Eurasia Gold Corp. EGX:TSX-V Toronto Stock Exchange
www.tse.com/...edPrices&Language=en&QuoteSymbol_1=egx&x=23&y=1
www.ivarkreuger.com/gold.htm
Eurasia Gold Corp
Suite 2215 - 120 Adelaide Street West
Toronto, Ontario, Canada M5H 1T1
Phone: 416.504.2899, Fax: 416.504.2729
www.eurasiagold.com/
MfG,
