Total Resources (Canada) has completed its purchase of Getty Resources, acquiring an 87.6% interest on a fully-diluted basis. Following the closure of the deal, Total elected three new directors to the Getty board. These are Phillip de Boos-Smith, Jacques Le Chevalier and Jean-Pierre Januard. Januard has also been appointed president and chief executive officer of Getty, effective immediately.
The 1988 exploration programs will continue as planned. This will include the start of a 2-year $25- million underground exploration program at the Tundra gold property in the N.W.T. The Canadian exploration projects are being funded from a $6-million flow- through share placement with cmp 1988 Resources Partnership.
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