Redell Mining Corp. wishes to announce that an Extraordinary General Meeting will be held on March 25, 1998 at our office at 609 West Hastings Street in Vancouver, BC. The Board of Directors has decided to propose to the Redell shareholders a stock consolidation at a ratio of 20 to 1. The current issued and outstanding share capital of the Company is 30,727,103 shares. If the shareholders agree to the consolidation, the new issued and outstanding share capital will be about 1,500,000 shares.
This stock consolidation is subject to shareholder approval being granted at the EGM, as well as acceptance for filing by the Vancouver Stock Exchange. The Company will change its name to FM Resources Corp., subject to shareholder and VSE approvals. Your Directors feel that this stock consolidation is in the best financial interest of the Company to assist the development of its current resource properties and any future prospects.
ON BEHALF OF THE BOARD
The Vancouver Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.