Montreal Exchange Halts Pegasus Trading

Wed., June 3, 1998

From Staff

The Montreal Exchange suspended trading shares of Pegasus Gold Inc. last week, following a company announcement that common shareholders are unlikely to recoup their investment.

But shares continue to be traded over the counter in the United States under the symbol PSGQF, said Pegasus spokesman John Pearson.

Based on Pegasus’ financial obligations and current assets, the shares may be worthless, the company announced Friday. That’s according to preliminary work on a reorganization plan that Pegasus must present to a federal bankruptcy judge by July 31, Pearson said.

Pegasus Gold Inc., which is based in Spokane, filed for Chapter 11 reorganization in January.

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Montreal Exchange Halts Pegasus Trading

Jesse Tinsley

Jim Meehan

Molly Quinn

Rob Curley

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