Dec 5 (Reuters) -
* WESTERN TROY ENTERS INTO BINDING LETTER OF INTENT
* WESTERN TROY CAPITAL - PROPOSED TRANSACTION BE STRUCTURED AS 3-CORNERED AMALGAMATION, RESULTING IN CHURCHILL BECOMING WHOLLY-OWNED SUBSIDIARY OF CO
* WESTERN TROY CAPITAL RESOURCES INC- PROPOSED TRANSACTION CONSTITUTES A "REVERSE TAKEOVER" OF COMPANY UNDER POLICIES OF TSX VENTURE EXCHANGE
* WESTERN TROY - PRIOR TO DEAL, CO WILL CONSOLIDATE TROY SHARES ON BASIS OF 1 POST-CONSOLIDATED TROY SHARE FOR EVERY 5 PRE-CONSOLIDATED TROY SHARES
* WESTERN TROY CAPITAL RESOURCES INC- CHURCHILL IS PROPOSING TO COMPLETE AN EQUITY FINANCING TO RAISE GROSS PROCEEDS OF UP TO C$2 MILLION