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Gold/Mining/Energy : PYNG Technologies

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To: m. jacobs who wrote (4188)	8/12/1999 5:26:00 PM
From: AriKirA	Read Replies (3) of 8117

Dear Mr. Jacobs, Since Pyng is in a compensating mood, I have a very reasonable proposal for you. Why not compensate a loyal and dedicated shareholder who's been with the company for the last 3 years? I am willing to proceed with a private placement with the company. 75,000 Units at 1,35$. Each unit is comprised of one common share and one warrant, each warrant entitling me to purchase one additional common share at 1,80$ (just over the required 130%) for a period of 18 months from the date of placement. I'll take care of all the necessary approvals and exemption orders. Since I am a Quebec resident and the placement is for an amount exceeding 97,000 $ I will be considered as an informed investor and will therefore be able to apply for an exemption order under the QSA. I'll also take care of all the necessary VSE filings in order to get their approval. The company agrees however to pay the few hundred required to get the exemption order and the necessary fees to register the shares on the VSE. Can't get a better offer than that can you? AK

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