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Gold/Mining/Energy : International Precious Metals (IPMCF)
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To: C L who wrote (13350)6/24/1997 12:49:00 PM
From: Harold Miller   of 35569
 
<< I am going to press the company to delist from the CDN. I know this
isn't good for our Northern friends.... >>

Nope, it is not good, but having said that, my conversations with Revenue Canada to date seem to indicate that the exchange it trades on is immaterial. It is more that the company is registered in Canada, and on their list, as being Canadian. So, the issue appears to be where the head office is registered. Ditching the CDN OTC might do no harm to us "northern friends".

I have email and a phone call into Eli to try and understand their intentions and timetable.

If IPMC really does plan to cut loose the investors who stuck with them this far, keeping our money in this company foresaking other investment opportunities, then the following reply I received from Green Line might lessen the effects somewhat:

"Thank you for your inquiry. If International Precious Metals does move to the U.S and "incorporates" the company in the U.S., your current holdings will turn into foreign content. I am told that there is a grace period of 1 year from the incorporation to ensure your foreign content falls within the 20% requirement. Please contact the company directly to find out their intentions. I hope I have been able to address your inquiry to your satisfaction."

I have to double check this with the Feds. If IPMC is planning to incorporate in the States, hopefully they will defer it for a while. Please suggest that when you talk to them, as I will be doing.

HM
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