Well Spiney someone feels we are going places!
IGT Pharma shares acquires by Peter Allard
IGT Pharma Inc IGT
Shares issued 8,819,820 Nov 4 close
$0.62 Fri 5 Nov 99 News Release Mr.
Peter Allard reports Peter Allard has acquired, pursuant to a private
placement 857,142 units of IGT Pharma at a price of 70 cents per unit, a
reporting issuer whose shares are listed and posted for trading on the
Vancouver Stock Exchange. Each unit consists of one common share and one
share purchase warrant. One and a half share purchase warrants will be
equivalent to one warrant share. The private placement will be carried
out in two tranches. The first tranche consists of 285,714 units
and has been completed as of Nov. 4, 1999. The second tranche consists of
571,428 units and is subject to receipt of shareholder
approval which is scheduled for the next shareholders special
meeting to be held on Dec. 10, 1999. As a result of the acquisition of the
first tranche, Mr. Allard, as of Nov. 4, 1999, had direct or indirect
beneficial ownership over 1,530,614 common shares and 285,714 share
purchase warrants, which if exercised would amount to 190,476 common
shares of the company, representing approximately 17.3 per cent of the
issued and outstanding share capital as at such date. Should shareholder
approval be obtained, Mr. Allard would own 2,102,042 common shares and
957,142 share purchase warrants, which if exercised would represent
571,428 common shares of the company, representing approximately 24.5 per
cent of the issued and outstanding share capital. Mr. Allard has purchased
the securities for investment purposes. Mr. Allard may in the future
increase his beneficial ownership of, or control or direction over,
additional shares of the company depending on the circumstances.
Mr. Allard, a lawyer by profession, is a businessman residing in
Barbados. |
