To: Ole 49r & Dennis Harris:
Thanks for your interest in ITG. Sorry for the delayed
response to your questions, but I wanted to post the
correct information. The following figures are from
ITG's latest prospectus dated August 23rd, 1996.
Shares Issued as of July 31, 1996 9,634,730
Shares offered in Prospectus 3,100,000
Agents Shares 200,000
Total Currently Outstanding 12,934,730
Reserved for Future Issue 8,537,240
Total Stocks and Warrants 21,471,990*
*Includes 3,000,000 shares to be issued to Orovi Corp
for its interest in the Ghana Property..Contingent upon
proving of at least 3,000,000 ounces of Gold. So discount
total by 3 million until we have one heck of a mine.
Closely Held Stock totals no more than about 1.2 million
shares.(843,000 Share Warrants Expiring between 11/97 &
7/2001 $1.00 to $3.60).
Warrants:
Expire October 1997 @ $2.65/$3.25 1,550,000 Shares*
(a very long list of holders, Some noteworthy holders
include Prudential Insurance Co. of America(37,500),
U.S. Global Strategies Fund(37,500)B.P.I. Canadian
Small Co.'s Fund(250,000)
*Included in figures above.
Expire at various dates April 97 to November 97, ranging
from $1.66 to $3.60 per share 841,700 Shares*
Officers & Directors Include:
A.E.(Ted) Daem President & CEO
William E. Morel Director
Robert Needham Director
Lawrence J. Peters Economic Geologist
Timothy D. Marlow Mining Engineer
Roger Taylor COB & Director
Eric Friedland Director
William C. Vanderwall Vice President, Exploration
Cash on hand estimated by Tournigan at 4.5 to 5 million.
One more private placement at...and these are rough numbers
2.5 Million Canadian and 1,100,000 shares at $3.60 with
1/2 share warrant attached at $3.60 to $4.10. I'm not sure of
the expire date or if this latest round is in the totals above.
I believe not...however.
Hopefully we'll see some more good core results soon!
In Advance.. Thanks for your comments.
Richard L. Brown
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