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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report: APRIL 21, 1998
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CORNUCOPIA RESOURCES LTD.
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(Exact name of registrant as specified in its charter)
BRITISH COLUMBIA, CANADA 0-16778 NONE
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(State or other jurisdication of (Commission (IRS Employer
incorporation) File Number) Identification No.)
540 THE MARINE BUILDING, 355 BURRARD STREET, VANCOUVER, B.C. V6C 2G8
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(Address of Principal Executive Office)
Registrant's telephone number, including area code: (604) 687-0619.
Unless otherwise indicated, all references to "dollars" and "$" are to Canadian
dollars.
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CORNUCOPIA RESOURCES LTD.
TABLE OF CONTENTS
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PAGE
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ITEM 1: CHANGES IN CONTROL OF REGISTRANT -
ITEM 2: ACQUISITION OR DISPOSITION OF ASSETS -
ITEM 3: BANKRUPTCY OR RECEIVERSHIP -
ITEM 4: CHANGES IN REGISTRANT'S CERTIFYING ACCOUNTANT -
ITEM 5: OTHER EVENTS 3
ITEM 6: RESIGNATION OF REGISTRANT'S DIRECTORS -
ITEM 7: FINANCIAL STATEMENTS AND EXHIBITS 3
ITEM 8: CHANGE IN FISCAL YEAR -
ITEM 9: SALES OF EQUITY SECURITIES PURSUANT TO REGULATION S. -
SIGNATURES 4
EXHIBITS 5-6
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CORNUCOPIA RESOURCES LTD. (THE "COMPANY")
ITEM 5: OTHER EVENTS
Cornucopia Resources Ltd. reports that it has been notified by its bankers
Dresdner Kleinwort Benson (Dresdner) that, effective May 1, 1998, the bank
intends to declare Cornucopia's wholly-owned subsidiary Mineral Ridge
Resources Inc. (MRRI) in default pursuant to the loan agreement between
Dresdner and MRRI dated January 17, 1997. Dresdner reserves its rights to
foreclose on MRRI's assets and enforce Cornucopia's guarantee.
Dresdner has advised Cornucopia that it believes that prompt cooperative
action could result in fulfillment of the obligations to the bank as well as
preserve some value for equity. Cornucopia is therefore continuing with its
efforts to arrange a corporate merger which would bring both physical and
financial resources to Cornucopia's operations and it is expected that a
proposal will be presented to the bank shortly.
ITEM 7: FINANCIAL STATEMENTS AND EXHIBITS
(c) EXHIBITS
20.1 NEWS RELEASE OF THE COMPANY DATED APRIL 21, 1998.
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CORNUCOPIA RESOURCES LTD.
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.
CORNUCOPIA RESOURCES LTD.
/s/ Glenn H. Friesen
Date: April 21, 1998 _______________________________
Glenn H. Friesen
Chief Financial Officer
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EXHIBIT 20.1
CORNUCOPIA RESOURCES LTD.
Suite 540 - 355 Burrard Street, Vancouver, BC Canada V6C 2G8
Telephone: (604) 687-0619 - Facsimile: (604) 681-4170
NEWS RELEASE
INVESTOR RELATIONS: 1.800.436.4404 NASDAQ TRADING SYMBOL: CNPGF
TSE TRADING SYMBOL: CNP
Vancouver, BC - Cornucopia Resources Ltd. reports that it has been notified
by its bankers Dresdner Kleinwort Benson (Dresdner) that, effective May 1,
1998, the bank intends to declare Cornucopia's wholly-owned subsidiary
Mineral Ridge Resources Inc. (MRRI) in default pursuant to the loan agreement
between Dresdner and MRRI dated January 17, 1997. Dresdner reserves its
rights to foreclose on MRRI's assets and enforce Cornucopia's guarantee.
Dresdner has advised Cornucopia that it believes that prompt cooperative
action could result in fulfillment of the obligations to the bank as well as
preserve some value for equity. Cornucopia is therefore continuing with its
efforts to arrange a corporate merger which would bring both physical and
financial resources to Cornucopia's operations and it is expected that a
proposal will be presented to the bank shortly.
In the meantime, crushing and leaching of ore is continuing at the Mineral
Ridge Mine and plans are underway for the resumption of the drilling program
at the Ivanhoe property in the Carlin Trend, Nevada.
ON BEHALF OF THE BOARD OF DIRECTORS
/S/ ANDREW F. B. MILLIGAN
Andrew F. B. Milligan
President and CEO
Cornucopia Resources Ltd.
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