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Gold/Mining/Energy : International Precious Metals (IPMCF)
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To: Furry Otter who wrote (28936)12/5/1997 10:41:00 AM
From: Karl Zetmeir  Read Replies (1) of 35569
 
US$1.25 million interim financing completed

International Precious Metals Corp IPMC
Shares issued 17,758,280 Dec 1 close $1.75
Fri 5 Dec 97 News Release
Mr Alan Doyle reports
The directors of International Precious Metals have completed a US$1.25
million interim financing. One million shares were placed with overseas
investors at $1.25 and carry an attached warrant exercisable at $1.25 on or
before December 3 1998. The company still plans to raise the additional
capital that was previously announced in Stockwatch November 17 1997.
Proceeds from the interim financing will be used as working capital in
order to continue the development work on the Black Rock project.
All aspects of the company's project are progressing well, especially the
development of an assay procedure that will quantify the platinum group
metals. The company can now move forward at a steady pace with project
development work after having achieved a number of technical milestones,
particularly successful independent third party verification and
certification of a modified gold fire assay procedure. Preparation is well
under way for the assaying of the large backlog of drill hole samples that
will formulate the basis of a resource statement for the first one square
kilometre grid
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