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Article: Coconino S.M.A. Sells Uinta Oil & Gas Subsidiary
- Article from:
- PR Newswire
- Article date:
- October 15, 1997
CopyrightCOPYRIGHT 1997 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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SALT LAKE CITY, Oct. 15 /PRNewswire/ -- Coconino S.M.A. Inc. (OTC Bulletin Board: CSMA) has sold its Uinta Oil & Gas subsidiary to Environmental Remediation Holding Company (OTC Bulletin Board: ERHC) of Brussard, LA.
Coconino will receive an undisclosed amount of ERHC common stock over an eight month period, restricted under Rule 144, at a guaranteed minimum value of $2.00 per share. The sale will also retire approximately $677,000 in debt. Coconino purchased Uinta in September 1996 for 185,000 shares of restricted common stock, which were returned to the company.
Coconino recently founded a separate oil & gas subsidiary, Coconino Oil & Gas ...
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Article: Coconino S.M.A. to Spin Off Two Subsidiaries
PR Newswire;
August 5, 1998 ;
700+ words
... ... PRNewswire/ -- The Board of Directors of Coconino S.M.A., Inc. (OTC Bulletin Board ... will be announced later in the year. Coconino SMA shareholders of record as of September ... companies proportionate to their ownership of Coconino SMA, Inc. shares. When the distributions ...
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