FCMI Financial Corporation Acquires Shares of Arizona Star Resources Corp.



    TORONTO, Oct. 29 /CNW/ - FCMI Financial Corporation ("FCMI Financial")
has acquired today 300,000 common shares of Arizona Star Resources Corp. (TSX
- V: AZS) through the facilities of the TSX Venture Exchange at a price of
$17.79 per common share.
    FCMI Financial, a company controlled by Albert D. Friedberg and members
of his immediate family, owns 300,000 common shares, its affiliate FCMI
Resources Ltd. owns 14,506,900 common shares and Albert D. Friedberg and his
spouse own 8,800 common shares, so that FCMI Financial and persons acting
jointly or in concert with it, own an aggregate of 14,815,700 common shares,
representing 35% of the total outstanding common shares. FCMI Resources Ltd.
has entered into a lock-up agreement with Barrick Gold Corporation pursuant to
which its has agreed to, among other things, tender all its Arizona Star
shares to the previously announced offer of Barrick Gold Corporation to
acquire all the outstanding common shares of Arizona Star for $18.00 cash per
common share (the "Offer").
    FCMI Financial has purchased such common shares for investment purposes
and also intends to tender them to the Offer.

    The TSX Venture Exchange has not reviewed and does not accept
    responsibility for the adequacy or accuracy of this news release.





For further information:

For further information: Henry Fenig: Tel: (416) 350-2890, Fax: (416)
364-0572

Organization Profile

FCMI FINANCIAL CORPORATION

More on this organization


Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890