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Gold/Mining/Energy : American International Petroleum Corp
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To: anyer who wrote (5316)11/24/1997 8:24:00 PM
From: MARIO PASQUA  Read Replies (1) of 11888
 
anier, You are correct.

CLASS A WARRANT

Each Class A Warrant entitles the holder thereof to purchase one share ofthe Company's Common Stock through March 1, 1998 at an exercise price of $4.00.
The Class A Warrants may be redeemed by the Company at any time prior to March 1, 1998 upon 15 days prior written notice, at a price of $.01 per Class A Warrant, provided that the average clsoing price of the Company's Common Stock shall have been at least $8.00 per share (200% of the exercise price of the Class A Warrants) for the 20 consecutive trading days prior to the notice of redemption and the Company has a current prospectus to permit exercise of the Class A Warrants. The Class A Warrants contain certain provisions that protect the holders thereof against dilution. The exercise price and the number of shares of Common Stock or other securities issuable upon exercise of the Class A Warrants are subject to, dividends (excluding cash dividends), splits, reclassifications, recapitalizations, reorganizations, mergers or consolidations of the Company.
The Class A Warrants may be exercised upon surrender of the Class A Warrant certificate on or prior to the expiration form on the reverse side of the Class A Warrant certificate completed and executed as indicated, accompanied by full payment of the exercise price (by check payable to the Company) for the number of Class A Warrants being exercised. The Warrantholders do not have the right or privileges of holders of Common Stock.
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