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SECURITIES AND EXCHANGE COMMISSION
Washington D. C. 20549
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FORM 8-K
PURSUANT TO SECTION 13 OR 15(D) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report
(Date of earliest event reported): November 15, 1995
ConSil Corp.
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(Exact name of registrant as specified in its charter)
Idaho
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(State or other jurisdiction of incorporation)
0-4846-3 82-0288840
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(Commission File Number) (IRS Employer Identification No.)
6500 Mineral Drive
Coeur d'Alene, Idaho 83814-8788
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(Address of principal executive offices) (Zip Code)
(208) 769-4100
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(Registrant's Telephone Number)
Page 1 of 2 Pages
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Item 5. Other Events.
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On November 15, 1995, the Registrant issued the press release
attached hereto as Exhibit A, which is incorporated herein by this reference.
Item 7. Financial Statements, Proforma Financial Information and Exhibits.
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Exhibit A - Press Release dated November 15, 1995.
SIGNATURE
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Pursuant to the requirements of Section 12 of the Securities
Exchange Act of 1934, the Registrant has duly caused this report to be signed
on its behalf by the undersigned, thereunto duly authorized.
ConSil Corp.
By /s/ Nathaniel K. Adams
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Name: Nathaniel K. Adams
Title: Secretary
Dated: November 15, 1995
Page 2 of 2 Pages
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EXHIBIT A
CONSOLIDATED SILVER CORPORATION
6500 MINERAL DRIVE
COEUR D'ALENE, IDAHO 83814-8788
PHONE: 208/769-4100
FAX: 208/769-4159
FOR IMMEDIATE RELEASE
November 15, 1995
CONSIL SHAREHOLDERS APPROVE NAME CHANGE, SALE OF SILVER MINE
COEUR D'ALENE, IDAHO -- Shareholders of Consolidated Silver Corporation
held an annual meeting yesterday in Spokane, Washington, and voted to approve
the sale of the Silver Summit mine to Sunshine Mining Company. The sale
conveys the subsurface mineral rights and the mill site to Sunshine Mining for
$750,000, and a retained net smelter return royalty based on a sliding scale
of up to 4% of any future production from the property. The Silver Summit
mine is located in North Idaho's Shoshone County.
The company intends to use the proceeds from the sale and other
available cash to invest in attractive silver exploration projects,
concentrating particularly in Mexico. ConSil Chairman Ralph Noyes said he is
enthusiastic about the company's change in direction, from owning a
nonoperating mine as its primary property to positioning itself as a silver
exploration and production company. Noyes said, "This is an exciting
development for ConSil. There are a lot of people who are bullish about
silver's future prospects, and those people are looking for silver investment
opportunities. We feel that Mexico is an especially favorable place to apply
modern silver exploration methods."
Shareholders also officially approved changing the name of the
corporation from Consolidated Silver Corporation to ConSil Corp., in order to
facilitate the company's intention to list its shares on the Vancouver Stock
Exchange (VSE), where a company with a name similar to ConSil's former name is
already traded. Consolidated Silver Corporation is currently traded on the
over-the-counter market in Spokane, Washington. Noyes said, "A future listing
on the VSE will give ConSil shareholders increased liquidity through easier
access to the market with their shares." In addition, shareholders approved
increasing the
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authorized common stock to 20 million shares, although currently the company
has not made any commitment to issuing additional shares.
Six directors were elected to ConSil's board: Ralph R. Noyes, Michael B.
White, Charles F. Asher, Robert Stuart Angus, Gerald G. Carlson and William J.
Weymark. New officers of the company were appointed, including Ralph R. Noyes
as Chairman, Gerald G. Carlson as President, Michael B. White as Vice
President, David F. Wolfe as Treasurer and Nathaniel K. Adams as Secretary.
Newly elected ConSil President Gerald Carlson holds a Ph.D. in geology from
Dartmouth College in New Hampshire and is on the boards of Dentonia Resources
Ltd. and Ballatar Explorations Ltd. He is fluent in Spanish, and his 21 years
as an exploration geologist and administrator include work in several
countries.
In other business, shareholders amended the company's Articles of
Incorporation related to qualification of directors in order to comply with
VSE requirements and amended language dealing with indemnification and
liability of directors under Idaho State law. ConSil shareholders also voted
to change the method of electing directors and approved Coopers & Lybrand as
independent auditors for the company.
ConSil Corp. was incorporated in the State of Idaho in 1967 and is
currently 78.45% owned by Hecla Mining Company of Coeur d'Alene, Idaho.
ConSil now has nearly 10 million common shares issued and outstanding, and the
company intends to focus on exploration for silver mining opportunities in
Mexico.
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Contact: Vicki Veltkamp, 208-769-4144
