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Hyal bekommt neuen Namen und neues Design! Hier die Meldung: Thursday February 15, 6:30 pm Eastern Time Press Release SOURCE: Hyal Pharmaceutical Corporation Hyal announces new corporate direction and name change VANCOUVER, Feb. 15 /CNW/ - Hyal Pharmaceutical Corporation ("Hyal" or the "Company", OTC BB: HYALF) announced today that it will be seeking shareholder approval to change its name to "Cade Stuktur Corporation" to pursue the financing and development of infrastructure related projects in the former East Germany. The Company also announced that it had entered into an agreement (the "Investment Agreement") with ZPR Zellstoff-und Papierfabrik Rosenthal Holding GmbH ("ZHG"), whereby ZHG would subscribe for 10 million common shares of the Company, would provide certain management and support to the Company and would agree not to compete with the Company in its new business. Upon completion of the agreement, the board of directors of the Company would be restructured to include one nominee of ZHG. The Company further announced that it had reached an agreement with Prada Holdings Ltd. ("Prada") to acquire a mineral royalty in the Wabush Iron Ore Mine (the "Royalty Interest") in exchange for $49 million of series B preferred shares of the Company (the "Preferred Shares"). The Preferred Shares are cumulative, non-convertible, non-voting, retractable under certain conditions and carry a 10% fixed annual dividend. The Preferred Shares also have a participation feature whereby the holders will participate in 25% of the Company`s net income after certain adjustments. The completion of the acquisition of the Royalty Interest is subject to various conditions, including the completion of the Investment Agreement, the completion of the court-approved proposal and the approval of shareholders of both the Company and Prada. The completion of the Investment Agreement is subject to various conditions, including the completion of the acquisition of the Royalty Interest and the completion of the court-approved proposal. A meeting of shareholders of the Company has been called for March 16, 2001. In conjunction with the above transactions, the Company also announced that it will be seeking shareholder approval to complete a share consolidation of one new common share for every ten common shares currently outstanding in order to decrease the number of outstanding common shares. For further information Was haltet Ihr davon. Wo geht`s hin? Linda B. |
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| aus der Diskussion: | Hyal +900% rauf! |
| Autor (Datum des Eintrages): | Linda B. (16.02.01 19:17:29) |
| Beitrag: | 14 von 14 (ID:2925715) |
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