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Chester Holdings Ltd. Approves Acquisition and Name Change to First Light Resources
Tuesday November 15, 9:00 am ET
SIMPSONVILLE, SC--(MARKET WIRE)--Nov 15, 2005 -- Chester Holdings Ltd. (OTC BB:FSLG.OB - News) announced that effective November 9, 2005 the company has changed its name to First Light Resources, Inc. and has commenced trading on Pink Sheets under the new symbol "FSLG." Chester Holdings Ltd. shareholders approved the name change and the 1-for-1000 reverse split at a Special Meeting held on October 24, 2005.
All current Board members of Chester Holdings have tendered their resignations and have appointed John Sadowski, President, CEO and Director. Mr. Sadowski is a geologist with over 40 years of management and field experience and will assemble the management and operations team to execute the company's business strategy.
First Light Resources, Inc. is a natural resource company with mining and mineral leases in Northern Ontario, Canada. First Light Resources has conducted an aerial Magnetic and VLF-EM, fly-over survey of the property. This survey has identified 4 geological anomalies that will require additional investigation; however, the results are consistent with other gold formations in the area. This portion of Canada has been a source of gold production since the late 1800's.
Disclaimer: The Company relies upon the Safe Harbor Laws of 1933, 1934 and 1995 for all public news releases. Statements, which are not historical facts, are forward-looking statements. The company, through its management, makes forward-looking public statements concerning its expected future operations, performance and other developments. Such forward-looking statements are necessarily estimates reflecting the company's best judgment based upon current information and involve a number of risks and uncertainties, and there can be no assurance that other factors will not affect the accuracy of such forward-looking statements. It is impossible to identify all such factors. Factors which could cause actual results to differ materially from those estimated by the company include, but are not limited to, government regulation; managing and maintaining growth; the effect of adverse publicity; litigation; competition; and other factors which may be identified from time to time in the company's public announcements.
From Pegasus there will first be the 1 for 1000 reverse split and then they'll do a 5 to 1 forward split, So the R/S will be 1 for 200.
Chester Holdings Meeting Highlights, taken from RB:
"By: Steveg
24 Oct 2005, 04:56 PM EDT
Msg. 33348 of 33355
Jump to msg. #
Chester Shareholder Meeting - I just returned from the meeting held this morning. Here are my preliminary comments:
I was the only shareholder at the meeting not aligned with the investment banking firm that put the deal together.
The merger is *not* with Signal Energies. Signal dropped out (no pun intended) for undisclosed reasons. The new company is called First Light Resources.
Peter Fisher is a businessman/entrepreneur with First Light Resources.
The phone number in the press release belongs to the investment banker called Pegasus Consulting Group, not Peter Fisher. Mr. Fisher did not know his name and a phone number were included in the press release.
Peter Fisher's partner is a geologist named John H. Sadowski. Both partners are Canadian based.
Both partners appeared to be credible and enthusiastic about what they were doing.
First Light Resources controls an 8000-acre Canadian property in Northern Ontario reported to be rich in gold and diamonds. The property is near Dog Lake. The partners showed certificates of analysis demonstrating signs of the mineral wealth of the property. The partners consider the property to be prime. It is surrounded by major mining developers interested in exploiting the mineral wealth of the area. They report interest from other parties that know the partners control the 8000-acre parcel.
Their plan is to explore the property, package out promising areas to major mining companies, and retain a 10-20% interest.
The partners are seeking an investor relations firm. They appear to be astute in knowing how to present their property and project to investors.
The partners knew little about Ches.
Neither the partners or the Pegasus people had ever heard of Steve Thomas.
Pegasus principal Raymond J. McNamee said the motion to merge and reverse split passed with 70 million or so votes.
The proportion of the new venture to go to Ches shareholders was estimated to be 3-5%.
The projected target price of old adjusted shares is 1-3 cents.
Ray purchased shares on the open market. He referred to a time in the recent past when there was significant share activity.
Steve"
***Proxy info***
for the following purposes:
1 To approve change to articles of incorporation to change the name to Signal Energy Inc.
2 To approve issuance of 100,000,000 shares of common stock par value .001
3 To ratify the decision of the board of directors to implement a 1 for 1000 reverse stock split of the corp. common stock.
4 To approve the acquisition of Signal Energy, Inc in exchange for 14,000,000 common shares.
GL2A
Chester Holdings Announces Change of Date and Location of Special Shareholders' Meeting
SIMPSONVILLE, S.C., Oct 11, 2005 (BUSINESS WIRE) -- Chester Holdings Ltd. (Pink Sheets:CHES) announced today that the company will change the date and location of their special shareholders' meeting. Originally, Chester Holdings Ltd. planned on holding their Special Meeting of Shareholders at 222A Ladean Court, Simpsonville, SC at 1 p.m. Eastern time on Monday, Oct. 10, 2005. The Special Meeting of Shareholders will now be held at The Radisson Hotel, 4545 MacArthur Blvd., Newport Beach, CA 92660 at 8 a.m. Pacific time on Monday, Oct. 24, 2005. The meeting will be held to vote on the reorganization of Chester Holdings Ltd. and the proposed merger with Signal Energy Inc. Notification to all shareholders has been sent by mail. Pending shareholder approval, the merger is expected to close by Oct. 25, 2005.
Signal Energy Inc. is a U.S.-based company dedicated to the goal of being a large independent in the exploration and production of oil and natural gas. The company's mission is to create value for its shareholders by applying strong technical expertise to strategies that will unlock substantial oil and gas resources in areas where production can be achieved quickly and efficiently.
Disclaimer: The company relies upon the Safe Harbor Laws of 1933, 1934 and 1995 for all public news releases. Statements, which are not historical facts, are forward-looking statements. The company, through its management, makes forward-looking public statements concerning its expected future operations, performance and other developments. Such forward-looking statements are necessarily estimates reflecting the company's best judgment based upon current information and involve a number of risks and uncertainties, and there can be no assurance that other factors will not affect the accuracy of such forward-looking statements. It is impossible to identify all such factors. Factors which could cause actual results to differ materially from those estimated by the company include, but are not limited to, government regulation; managing and maintaining growth; the effect of adverse publicity; litigation; competition; and other factors which may be identified from time to time in the company's public announcements.
SOURCE: Chester Holdings Ltd.
CONTACT: Chester Holdings Ltd.
Michael O'Shea, 864-228-2222
or
Signal Energy Inc.
Peter Fisher, 949-706-3499
Copyright Business Wire 2005
-0-
KEYWORD: United States
North America
California
South Carolina
INDUSTRY KEYWORD: Energy
Oil/Gas
News out on Ches sale. More news expected. Lots of activity on Raging Bull BB.
Steve
CHES shell has been sold, taken from RB
"By: pauldsr
27 Aug 2005, 08:12 PM EDT
Msg. 32781 of 32781
(This msg. is a reply to 32780 by Sideem.)
Jump to msg. #
Sideem and all,
The CHES shell has been sold. The new owners took over last Friday (8/19/05). Mike O'Shea has resigned from the BOD as of this last Wednesday, and will no longer have any part of CHES. I do not know why the new company has not released a PR.
I think they may be waiting to finalize any matters such as:
1) paying the T/A and getting a shareholders list.
2) doing an overview of the audits.
3) deciding to raise O/S or do a R/S.
4) etc. etc.
We will have to wait until they decide to do so.
Paul"
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