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Gold/Mining/Energy : International Precious Metals (IPMCF)
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To: Bob Jagow who wrote (26531)11/15/1997 8:29:00 PM
From: Bob Markley  Read Replies (1) of 35569
 
Briefly Bob,

To carry the analogy further the $1000 note is also REDEEMABLE, thus if I think my stock price will go up alot I can call the note right now and force you to convert rather then waiting for the stock price to be sky high. From the PR:

"IPM is finalizing a private placement with several institutional investors for up to US $10 million. The placement will be in the form of a redeemable convertible note with the conversion price based on 125% of IPM's share market price."
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