Big Changes Due At Gold Securities

Fri., Aug. 5, 1994

Staff

Idaho-based Gold Securities Corp. acquired the assets of a California partnership Tuesday and will now become a mergers and acquisitions firm, said Robert O’Brien, departing president of Gold Securities. Gold Securities acquired the assets of HR Asset Management from Orange, Calif., for $3.21 million in exchange for 10 million shares of restricted Gold Securities common stock.

HR Asset Management, controlled by Alexander Hope and George Richhart, now owns 53.75 percent of the firm. Formerly a mining development stage company, Gold Securities will look to merge and acquire existing businesses, O’Brien said.

O’Brien resigned as president but will remain a member of the board of directors and a consultant to the company. Hope replaces O’Brien as president and chief executive officer.

Howard K. Michaelson and Gordon E. Hawk were replaced by Hope and Richhart on Gold Securities’ board of directors.

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Big Changes Due At Gold Securities

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