SECURITIES AND EXCHANGE COMMISSION
Washington, D.C.
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): NOVEMBER 22, 1996
NORTH LILY MINING COMPANY
(Exact name of registrant as specified in its charter)
UTAH 1-16740 87-01593350
(State or other jurisdic- (Commission File (IRS Employer
tion of incorporation) Number) Identification No.)
1800 GLENARM PLACE, SUITE 210, DENVER, COLORADO 80202
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (303) 294-0428
NOT APPLICABLE
(Former name or former address, if changed since last report)
Page 1 of 4 pages
Exhibit index on consecutive page 2
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ITEM 1. CHANGES IN CONTROL OF REGISTRANT.
Not Applicable
ITEM 2. ACQUISITION OR DISPOSITION OF ASSETS.
Not Applicable
ITEM 3. BANKRUPTCY OR RECEIVERSHIP.
Not Applicable
ITEM 4. CHANGES IN REGISTRANT'S CERTIFYING ACCOUNTANTS.
Not Applicable
ITEM 5. OTHER EVENTS.
Pursuant to General Instruction F to Form 8-K, the registrant
hereby incorporates by reference the information contained in
the news release, a copy of which is filed as an exhibit to
this report.
ITEM 6. RESIGNATIONS OF REGISTRANT'S DIRECTORS.
Not Applicable
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS.
(a) Financial statements of businesses acquired: Not
applicable
(b) Pro forma financial information: Not applicable
(c) Exhibits:
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REGULATION CONSECUTIVE
S-K NUMBER DOCUMENT PAGE NUMBER
<S> <C> <C>
20.1 News Release 4
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ITEM 8. CHANGE IN FISCAL YEAR.
Not Applicable
Page 2 of 4 pages
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ITEM 9. SALES OF EQUITY SECURITIES PURSUANT TO REGULATION S.
Not applicable.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
NORTH LILY MINING COMPANY
Date: December 3, 1996 By: /S/GENE WEBB
W. Gene Webb
Executive Vice President
14:11-22-96.8-k
Page 3 of 4 pages
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NASDAQ: NLMC DECEMBER 2, 1996
NORTH LILY MINING COMPANY
APPROVES CAPITAL CONSOLIDATION
At the annual shareholders' meeting of North Lily Mining Company on November 22,
1996, the shareholders approved a one-for-ten split of the nearly 30 million
outstanding common shares of the Company.
Speaking from Denver, the Company's president, Steve Flechner, stated that this
painful capital consolidation finally repositions the Company for growth by
making shares available to raise needed working capital and to acquire assets.
The effective date for the capital consolidation to less than 3 million shares
is December 8, 1996. Accordingly, the common stock will begin trading on this
consolidated basis upon the opening of trading on December 9, 1996.
The Company's shareholders also adopted a Stock Option Plan and Restricted Stock
Plan which will be important in attracting and keeping qualified management
personnel. The following persons were elected as directors of the Company.
Stephen Flechner, Theodore Loud, John Twohig and W. Gene Webb.
Mr. Flechner also indicated that the Company is not effectuating the proposed
acquisition of Tamarine's marine ventures because the transaction is not
available on the terms approved by shareholders, and has not proven readily
financeable as part of the natural resource Company. Tamarine is seeking
separate financing, and offering a major interest to the Company for its prior
funding and assistance.
The directors and management of the Company sincerely thank the shareholders for
their continued support. Based upon the capital consolidation, the Company is
now pursuing financing and potential acquisitions.
For further information, please contact Steve Flechner or Gene Webb at (303)
294-0427.
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