July 31, 1998
MMRL Completes Exchange With Northstar Energy
MMRL has completed the previously announced agreement to exchange its holdings of Mountain Energy Inc. for the 4,216,740 common shares and the option to purchase an additional 1,189,732 common shares of MMRL held by Northstar Energy Corporation. These common shares and options representing approximately 25% of the Company are being cancelled.
The common shares of the company are listed on the Toronto Stock Exchange under the symbol MM.
For further information contact:
| In Canada: Raymond R. Pether Chief Operating Officer (416) 362-0714 ext. 204 |
In the UK: Peter A. Braaten President 0171-814-6644 |