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Biotech / Medical : Nortran Pharmaceutical -NRT.V
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To: Pied Piper who wrote (1143)6/17/1999 11:33:00 PM
From: Wisee  Read Replies (1) of 1185
 
Interesting post from Stockhouse.

IMO this confirms that insiders were NOT selling before the recent news release.

"Upon reading some of the previous comments about insider trading in Nortran , I decided to follow up and called the British Columbia Securities Commission to get some facts and insider trading reports. I also called Nortran for some information.

The individual who bought 100,000 shares on May 6th, 1999 and sold them right after was the individual who originally took Nortran public. My understanding is that he is not actively involved and has not been involved with Nortran for the past several years.

Allan Bain who sold 15,000 shares at the beginning of May is a director of Nortran but is now president of another Biotech
co.

The sale of 800,000 shares were sold through Magic Bullets a company owned by the founding scientists of Nortran. These shares were warrants with an exercise price of 90 cents. The scientists were unable to pay for the warrants so the warrants were exercised and sold to two large investor groups already involved in Nortran for 97 cents. This was done to put $720,000 into Nortran's treasury, without adversely affecting the market.

I hope this clarifies the comments in regards to insider trading."
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