NAME CHANGE AND CONSOLIDATION
Redell Mining Corp. announces that management's proposal to consolidate the share capital on the basis of 1 new share for every 20 old shares was passed at the EGM of 25 March, 1998.
Following the passage of the consolidation, management's remaining proposals were also passed. These proposals renamed the Company to FM Resources Corp., after Freegold Mountain the site of the Company's birth, reestablished the authorized share capital to 100,000,000 with no par value, and authorized the deletion of fractional shares on any distribution.
The Company is now better positioned to secure financing of the programs necessary to advance towards production status.
ON BEHALF OF THE BOARD
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