NORTH AMERICAN VENTURES <NAVI.O> SELLS COMMON
North American Ventures Inc
said it has sold about nine mln dlrs of the company's
restricted common shares to the newly created <Butler
International Inc> Employee Stock Option Plan.
    North American said the nine mln dlrs payment resulted from
an excess of funds in Butler's pension plan.
    The transaction was for about 1.5 mln North American common
shares approximating 5.1 pct of the company's outstanding
shares, North American said.
   
    North American said proceeds from the stock sale would
increase the company's stockholders' equity to about 85 mln
dlrs and will be used to pay down aquisition financing used in
the Butler purchase which was completed in January.
 Reuter
