ABM GOLD TO RAISE INTERESTS IN CANADA COMPANIES
ABM Gold Corp will use the proceeds of
an initial public offering of seven mln shares of stock at 10
dlrs a share to increase its interest in three Canadian
companies, said co-managing underwriters PaineWebber Inc and
Advest Inc.
    ABM Gold manages and develops properties of Sonora Gold
Corp <SON.TO>, Goldenbell Resources Inc <GBL.TO>, United Gold
Corp <UGC.V> and Inca Resources Inc <IRI.TO>.
    Proceeds will be used to raise its stake in Sonora, buy a
15 pct interest in the net profits of Sonora's Jamestown mine,
and buy capital stock of Goldenball and United, they said.
    ABM Gold explores, acquires and develops gold properties in
California, and also processes gold-bearing ore into gold
bullion.
    The co-managing underwriters said they are selling 3.5 mln
shares in the U.S. and Canada, while an interational offering
will be managed by PaineWebber International. The underwriters
have been granted an option to buy up to an additional 105,000
shares to cover over-allotments.
 Reuter
