Intl. Mahogany after Cons. Carina

Vancouver based International Mahogany (TSE) has acquired 290,000 shares of Consolidated Carina Resources (VSE) at a purchase price of 58 cents per share. The acquisition brings Mahogany’s stake in Carina to 490,000 shares or about 19% of the company’s outstanding shares. Mahogany also owns warrants to buy another 200,000 shares of Carina by July 16.

Parties acting in concert with Mahogany hold another 110,000 shares and 622,500 warrants to purchase 311,250 shares of Carina. The later company owns significant gold exploration prospects near Brownell Lake in northern Saskatchewan.