Inflazyme Pharmaceuticals (T.IZP) Message Board

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Gold/Mining/Energy : Inflazyme Pharmaceuticals (T.IZP)

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To: Sanjay Varma who wrote (25)	8/2/1996 12:48:00 PM
From: Sean Janzen	of 1501

Sanjay, You should call your broker for the specifics on how they handle the transaction. If you keep your stock in street name with a broker then your broker will receive notification of the rights offering. You will receive notification from your broker of the offer to buy units at a price of Cdn$1.20 or approximately US$0.90 per unit. The offer expires September 8,1996. Historically Cdn$1.00 = US$0.92. That stat comes from the late 1980's. Since that time the Canadian dollar has traded at a low of US$0.69. Today Cdn$1.00=US$0.73. It is not far off its historical low. In 1991 the Cdn$1.00 = US$0.84. So, we have seen a fairly large devaluation in the Canadian dollar since 1991. Note - these rates are available to the banks best customers (individuals trading in millions of dollars). The rest of us pay about US$0.01 to US$0.02 above the rate the banks give their best customers. If you are selling Canadian dollars can expect to receive US$0.01 to US$0.02 less than the rate the banks give their best customers. Ask your broker for the current exchange rate. Best of luck.

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