Echo Bay to acquire interest in Muscocho Group. (Echo Bay Mines Ltd.)

PR Newswire | April 15, 1988 | Copyright

ECHO BAY TO ACQUIRE INTEREST IN MUSCOCHO GROUP

TORONTO, April 15 /PRNewswire/ -- Echo Bay Mines Ltd. (AMEX, TORONTO, MONTREAL: ECO), Muscocho Explorations Ltd., Flanagan McAdam Resources, Inc. and McNellen Resources, Inc. announced today they have entered into a contract whereby Echo Bay will acquire a significant minority interest in the Muscocho group of companies through an investment of Cdn $50 million (U.S. $40 million) comprising Cdn $26.5 million in common shares and Cdn $23.5 million in convertible debt securities.

Muscocho, Flanagan McAdam and ...

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