Joint press release Eurasia Gold Corp
Joint press release - Completion of transaction to purchase the
57.7% interest in Eurasia held by Compagnie Internationale de
Developpement
7/28/04
TORONTO, Jul 28, 2004 (Canada NewsWire via COMTEX) --
Eurasia (TSX-V symbol: EGX) and TKA are pleased to announce the
completion of a purchase by TKA of 68,269,253 common shares,
representing 57.7% of the issued and outstanding common shares, in
Eurasia from CIDEM, a wholly owned subsidiary of Thistle Mining Inc.
via private transaction (the "Transaction"). The shares acquired by
TKA via the Transaction are the only shares held by TKA in Eurasia.
As consideration for the shares, TKA transferred to CIDEM (i)
US$3,500,000.00, (ii) 65,644,840 common shares in the capital of JSC
Charaltyn representing approximately 2% of the issued and
outstanding common shares of JSC Charaltyn, and (iii) a
participation right in JSC Charaltyn's future projects in gold
exploration or mining.
In connection with the Transaction, Thistle Mining Inc., Eurasia and
TKA have entered into a management fees release agreement whereby
Thistle has agreed to release the management fees owed to it by
Eurasia.
TKA is one of the principal shareholders of JSC Charaltyn, a
publicly listed Joint-Stock Company on the Kazakhstan stock
exchange, which is led by Mr Baltabek Mukashev, a former director of
Eurasia. TKA intends to hold the shares of Eurasia for investment
purposes and has no intention at this time to acquire further shares
in Eurasia.
Mr. William P. McLucas and Harvey McKenzie resigned from the Board
of Directors of Eurasia and as Chairman of the Board and Chief
Financial Officer respectively on the completion of the Transaction.
Prior to the completion of the Transaction, Mr. Gerry Roe resigned
from the Board of Directors of Eurasia to pursue other business
interests in the oil industry. The Board of Directors of Eurasia
wishes to thank them for their contribution and to also announce
that Mr. Richard Lachcik has been appointed as a director of the
Eurasia.
Mr. Richard Lachcik has been a partner of the law firm Macleod Dixon
LLP since August 1998 and prior thereto was a partner of Weir &
Foulds. He holds a law degree from Queen's University and was called
to the bar in Ontario in April 1983. Mr. Lachcik specializes in the
areas of corporate and securities law. He currently serves as a
director and/or officer of several other public companies.
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT
RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE RELEASE
VIEW ADDITIONAL COMPANY-SPECIFIC INFORMATION:
https://www.newswire.ca/en/releases/orgDisplay.cgi?okey=55596
https://www.newswire.ca/en/releases/orgDisplay.cgi?okey=13970
For further information:
Eurasia Gold Corporation, Graham Bevan, President, + 44 7789 721952
TKA Corporation, Malik Nishanbayev, + 7 (3272) 581-081