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| | Electrosource Inc. Announces Financing Agreement With Majority Shareholder, Kamkorp Ltd. Not Completed |
 | | Under terms of the aforementioned agreement, on or before 30 April, 2001 Kamkorp was to complete its purchase of the remaining 1,773,624 shares of a five-year option granted to Kamkorp in June 1998 to purchase three million (3,000,000) shares of Electrosource Inc., common stock at par value ($1.00). |
 | | The new option provided for Kamkorp to exercise its rights to purchase the Company's common stock at a rate of not fewer than three hundred thousand (300,000) shares per month beginning 30 May, 2001 and continuing for ten (10) months through 28 February 2002. |
 | | However, Kamkorp did not exercise its option to purchase the remaining 573,624 shares by April 30, 2001. |
| www.theautochannel.com /news/2001/05/17/021090.html (468 words) |
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