The management of Zarcan International Resources would like to announce that as of July 1, 2003 the fourth stage of capital increase from 20 billion Iranian rials ($2.5 million) to IR 24 billion of the Company's Iranian affiliate Pouya Zarcan Agh Darreh Company (PZA) has been successfully completed.
The company is unable to participate in this capital increase due to lack of financing caused by problems still arising in the Middle East. The company retains 33 1/3 percent of capital shares of PZA.
Zarcan International Resources is a Canadian mineral exploration company incorporated in British Columbia, Canada with its head office in Vancouver, British Columbia, and with interests in properties located primarily in Iran and Brazil. The company aims to identify low-cost mining projects internationally and acquire advanced stage projects predominantly in the precious and base metal sectors. — (menareport.com)
© 2003 Mena Report (www.menareport.com)
