An amalgamation involving Hughes Lang has been carried out.
The Vancouver-listed company has merged with three Toronto-listed juniors: Orofino Resources, Nova-Cogesco Resources and Equity Reserve. The surviving entity, CanGold Resources, will be posted for trading on the Toronto, Montreal and Vancouver stock exchanges. The company has working capital exceeding $3 million and securities valued at more than $2 million. It also holds a US$3.5-million debenture of Atlas (NYSE), convertible into 875,000 Atlas shares at US$4 per share. Atlas produced 55,080 oz. gold in Nevada during the fiscal year ended June 30, 1993.
CanGold intends to expand by acquiring and investing in producing gold properties.
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