latest news releases from the newsroom
Silverado Financial, Inc.
Silverado Appoints Interim Chief Financial Officer
PLEASANTON, Calif., Nov. 16, 2004 (PRIMEZONE) -- Silverado Financial Inc. (OTCBB:SLVO) today announced that Albert Golusin has resigned as a member of the Board of Directors and Chief Financial Officer of Silverado Financial, effective November 15, 2004, in order to focus full-time on his position as CFO of SunnComm International, Inc. (SCMI).
Cardo Exercises Warrant and Makes Capital Gain of about SEK 40 Million
MALMO, Sweden, Nov. 16, 2004 (PRIMEZONE) -- Cardo has exercised the warrant that was received as part of the selling price on disposal of the Rail business area in September 2002. At the same time, Cardo has decided to sell the shares received to the new principal owner of the operation. The sale gives a capital gain of approximately SEK 40 million.
Smith & Nephew PLC
Timing of Smith & Nephew plc International Financial Reporting Standards 'IFRS' Presentation
LONDON, Nov. 16, 2004 (PRIMEZONE) -- Smith & Nephew plc (LSE:SN) (NYSE:SNN), the global medical technology business, will tomorrow, 17 November 2004, give a webcast presentation and teleconference on how its UK GAAP results, for 2003 and for the first three quarters of 2004, will be re-stated for comparison purposes when IFRS is adopted from 1 January 2005. This information is being presented to assist the investment community in assessing the impact of IFRS on the group.
Ontus Telcommunications Corp.
Ontus Telecommunications Exchanges 75 Million Common Shares
PORTLAND, Ore., Nov. 16, 2004 (PRIMEZONE) -- Ontus Telecommunications Corp. (Pink Sheets:ONTC), an FCC licensed international, long distance communications carrier and business class VoIP wholesaler, today announced that further to the news release dated November 1, 2004 announcing that certain shareholders of the Company had exchanged 55,213,900 ONTC common shares for 5,000,000 Series A preferred shares of the Company, David Hoffman and Ken MacDonald have agreed to exchange an aggregate of 74,889,480 restricted and free trading ONTC common shares for an equitable combination of ONTC Series B and ONTC Series C preferred shares. The exchange has reduced the availability of ONTC free trading common stock by 81%.
Aztec Oil & Gas, Inc.
Aztec Oil & Gas Announces Financing for Four New Wells
HOUSTON, Nov. 16, 2004 (PRIMEZONE) -- Aztec Oil & Gas, Inc. (OTCBB:AZGS) announced today that the Big Foot 2004-1 Drilling Program LP has received funds from two investment groups affiliated with shareholders of Aztec to fund the drilling phase of four (4) new infield oil wells to be drilled on the Z2 LLC properties, in which Aztec holds a 31.283% interest. These four (4) wells will be the first wells funded in accord with Aztec's business model that calls for participation from outside investors to assume the cost of drilling wells in exchange for a part of the revenues derived from the wells they finance.
Harsco Corporation Declares 9.1 Percent Increase In Quarterly Cash Dividend
HARRISBURG, Pa., Nov. 16, 2004 (PRIMEZONE) -- Harsco Corporation (NYSE:HSC) announced today that its Board of Directors has authorized a 9.1 percent increase in the Company's dividend rate and declared a regular quarterly cash dividend of $0.30 cents per share, or $1.20 per share on an annualized basis. The increased dividend is payable February 15, 2005 to stockholders of record as of January 14, 2005.
Pinnacle Developments, Inc.
Pinnacle Developments Announces Letter of Intent for Cantech Fibre Acquisition
VANCOUVER, British Columbia, Nov. 16, 2004 (PRIMEZONE) -- Pinnacle Developments Inc. (Pink Sheets:PNCV) is pleased to announce the signing of a letter of intent to acquire Cantech Fibre Inc., a B.C. hardwood manufacturing company. Cantech Fibre currently has a significant contract to manufacture and deliver hardwood cants for sale to China and other foreign markets. The contract specifies volumes that will ramp up over the next 90 days from 50,000 to 800,000 board feet per month. The contract is expected to generate revenues of $6,650,000 per year in gross revenues and result in $2,515,000 in earnings per year.