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~i <br />III IIIIIIIIIIIIIIII <br />sss <br />RECEIVE® <br />61AR 21988 <br />UNITED STATES BANKRUPTCY COURT MINED LAND <br />FOR THE DISTRICT OF COLOP.ADO RECLAMATION DIVISION <br />IN RE: ) <br />PEERLESS RESOURCES, INC., ) Case No. 86 B 2846M <br />a Colorado corporation ) <br />Debtor. ) <br />AMENDED DISCLOSURE STATEMENT <br />TO ACCOMPANY DEBTOR'S THIRD AMENDED <br />PLAN OF REORGANIZATIOtJ <br />Peerless Resources, Inc. ("Peerless" or "PRI") submits <br />this Disclosure Statement in accordance with its second <br />amended Plan of Reorganization filed in the subject proceed- <br />ing on November 9, 1987, and pursuant to the applicable <br />provisions of 11 U.S.C. Section 1125 and Section 1126. <br />I. <br />A Disclosure Statement is required by the Bankruptcy <br />Code (the "Code") in order to give information of the kind <br />and in sufficient detail as far as a practicable in light of <br />the nature and history of the Debtor, and the condition of <br />Debtor's books and records, that would enable a hypothetical <br />and reasonable investor, typical of holders of claims or <br />interests of a relevant class to make an informed judgment <br />about the Plan. Based upon such information, judgments, <br />creditors of the Debtor, in their own form, can exercise the <br />right to vote for acceptance or rejection of the Plan of <br />Reorganization (the "Plan"), presently on file with the <br />United States Bankruptcy Court. A copy of the Plan accompa- <br />nies this Disclosure Statement. The following terms are <br />utilized in this Disclosure Statement and Plan, and are <br />defined as follows: <br />"CONFIRMATION" - shall mean entry by the Court of an <br />order, after notice to creditors and a hearing, determining <br />that a Plan shall meet all statutory requirements, making <br />the terms binding upon all affected parties, and discharging <br />specified debts. <br />