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For Immediate Release: June 25, 1998
ASE: PXR
12G: 82-4614
Cusip: 70428T
PAXTON PACIFIC RESOURCE PRODUCTS - Acquisition of Pacific
Calcium Inc. Approved
The Company is pleased to announce that it has obtained
the necessary regulatory approval and completed the acquisition
of all the issued and outstanding shares of Pacific Calcium
Inc. (PCI) of Tonasket, Washington as per news releases dated
March 7th, 1997 and September 17th, 1997.
PCI is the owner and operator of two mineral quarries (limestone
and dolomite) and a related crushing, processing, and bagging
plant. Upgrading this facility has transformed a conventional
industrial mineral supplier into a value-added product manufacturer.
Opposed to its past single-material capability, PCI is currently
able to micro-mill, mix, prill, and package a whole host
of natural and, when appropriate, synthetic materials in
order to produce the full line of Nature's Intent products.
The Company has received a report from Mammoth Geological
Ltd. that has assessed the value of the reserves at PCI on
a net present worth of US$ 1,700,546.00.
Subsequent to the purchases of PCI and Nature's Intent Environmental
Systems, Paxton has experienced good market response for
its Nature's Intent line of soil amending products. Paxton
continues to expand distribution of Nature's Intent products
as evidenced by orders throughout Canada and the United States
of America, including Hawaii, with inquiries as far reaching
as China and Australia.
The Company expects strong growth in this area as mounting
public pressure and stricter legislation continue to force
a review of existing chemical fertilizer and soil amendment
ingredient standards.
On behalf of the Board of Directors
PAXTON PACIFIC RESOURCE PRODUCTS INC.
Michael Stephenson
President and Director
The Alberta Stock Exchange has neither approved nor disapproved
the information contained herein.
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