Hi Quinn,and Hi Everyone, A little overdue Due Diligence. Please Copy for Future Reference:
Shares Issued: 16,763,710
Fully Diluted: 24,261,120
Proceeds to PFG January 1997 to Present:
P.P.January 31,1997 2,475,000 shares @ $1.32 $3,267,000
Exercise Wts.Hydra 1,304,350 Wts. @ $2.00 $2,608,700
Exercise Wts. June 25, July 6,1997 15,000 @ $0.75 $11,250
Options Jan, 1997 142,750 @ $0.75 $107,062
Options Jan, 1997 150,000 @ $0.45 $67,500
Options Jan, 1997 50,000 @ 1.25 $62,500
Option Jan, 1997 10,000 @ $0.59 $ 5,900
Sp.Wts. April 4,1997 1,370,600 for cash $8,737,575
6% Comm.to Underwriters L.O.M,NESBITT, FIRST ME, -$524,255
-----------
Total Proceeds Published To Date For 1997 $14,343,232
-----------
Options and Warrants Outstanding:
Number Expiry Date Potential Proceeds
Share Purchase Wts. 753,500 $0.75 Jan. 26,1998 $565,125
Share Purchase Wts. 1,000,000 $0.75 Mar6,1998 $750,000
Share Purchase Wts. 2,475,000 $1.52 Jan. 31,1999 $3,762,000
Compensation Options 75,000 $6.375 Apr. 4,1999 $478,125
Stock Options 1,295,000 $3.85 Feb. 3,1999 $4,985,750
Stock Options 60,000 $5.17 Apr. 18,2002 $310,200
Stock Options 330,000 $3.85 June 2,2000 $1,270,500
-----------
Proceeds All Wts.And Options to June 2,1997 Exercised: $12,121,700
------------
Participants in the 2,475,000 $1.32 shares with Wts. to exercise @ $1.52 Jan 31,1997 :
Amount Position
515082 B.C.(Catherine McLeod) 250,000 President
Douglas Forster 250,000
Bob Hartvikson 250,000
Blayne Johnson 250,000
Gerald Phillips 686,000 (Former)President
Druval Westcott 150,000 (Former)Director
Norma Westcott 150,000 Wife
Pacific Island Trust(Jeffrey Gee) 100,000 Smithers
John Chalcraft 7,500 I.R.
Arne Poetker 15,000 (Former Director)
Douglas Ward 27,500 (Former Director)
Eugene Bekar 175,000 Smithers
Elizabeth Ann Duda 100,000 Smithers
Frontier Chrysler (Mark Bandstra) 39,000 Smithers
John Ball 25,000 Consulting Geologist ---------
Total Shares Issued 2,475,000
Total Wts. Issued 2,475,000
Participants in $3.85 Options of Feb.3,1997:
Name Number Amount Expiry Date Position
348 Sail View Ventures Ltd. 20,000 Feb.3,1999 Who is this?
Samantha Cramer 50,000 " Internal I.R
Thomas C. Shrake 300,000 " CEO
Catherine McLeod-Seltzer 460,000 " President
Chris Thompson 150,000 " Director
Tony Petrina 150,000 " Director
Quarry Capital 50,000 " Who??
Adobe Capital Inc. 100,000 " ????????
Alan McKerran 100,000 "
Robin Blues 15,000 " (Former) Legal Counsel
Carmen Morales 10,000 June 2, 2000 Worked with CMS
David Ernst 75,000 June 2, 2000 Chief Geologist
Bill Gehlan 75,000 " Exp.Mgr.Geologist
Marjorie Scherer 20,000 " Who???
William Myckatyn 150,000 " Director
----------
Total 1,725,000
----------
Kathyrn Church Options @ $5.17 60,000 April 18, 2002
Jorge Brito Options Nov.96 @ $1.25 100,000 Nov.6,1998 Geologist S.A.
John Chalcraft Options @ $1.25 50,000 Nov.6,1998 I.R.
-------
Total 210,000
-------
The options to Jorge Brito and John Chalcraft do not show up in the published totals in the July 31, 1997 Quarterly Summary. I don't know if they were exercised or cancelled.
Participants in Special Warrants @ $6.375:
Names Amount
Catherine McLeod-Seltzer 125,000
Blayne Johnson 100,000 ( There's that name again!)
Rob Hartvikson 100,000 (Always with him)
Douglas Forster 125,000 (He pops up everywhere also)
Deans Knight Capital Mgt. 35,000
Altamira Management Ltd. 220,400
Banque Eurofin 73,000
Van Eck Int.Inv.Gold Fund 65,000
Van Eck and Assoc. 35,000
532477 B.C. Limited 50,000 Who's This?
John Tognetti 50,000
19 other smaller placees 392,200 Not named
-----------
Total Warrants Bought 1,370,600
-----------
CMS Holdings 250,000 shares @ $1.32 (Paid)
250,000 wts. @ $1.52
460,000 options @$3.85
125,000 SP.Wts. @ 6.375(Paid)
---------
Total 1,085,000
We do not know who owns the shares or warrants behind
some of these companies, which are either numbered or
named companies. When I talked to John, to confirm
the amount of money in the pot, just before his departure
from PFG, he said the amount at that time was just over
$11,000,000. If they have a burn rate of say, $4 million
a year, then they have enough for nearly 3 years of
exploration and other expenses.This would take them
through to the fall of 2000. Provided they can increase
the value of the stock to higher levelsJ, there would
be a little over $12 million added to the pot if all
warrants and options were exercised.
This has been a long exercise for me, and I hope that
everyone takes a copy, so that you can add or subtract
from these figures as expiry dates are reached, more options are granted, or shares issued. (What an awful thought!)
Cheers
Shirley
Hi Quinn,and Hi Everyone, A little overdue Due Diligence. Please Copy for Future Reference:
Shares Issued: 16,763,710
Fully Diluted: 24,261,120
Proceeds to PFG January 1997 to Present:
P.P.January 31,1997 2,475,000 shares @ $1.32 $3,267,000 Exercise Wts.Hydra 1,304,350 Wts. @ $2.00 $2,608,700
Exercise Wts. June 25, July 6,1997 15,000 @ $0.75 $11,250
Options Jan, 1997 142,750 @ $0.75 $107,062
Options Jan, 1997 150,000 @ $0.45 $67,500
Options Jan, 1997 50,000 @ 1.25 $62,500
Option Jan, 1997 10,000 @ $0.59 $ 5,900
Sp.Wts. April 4,1997 1,370,600 for cash $8,737,575
6% Comm.to Underwriters L.O.M,NESBITT, FIRST ME, -$524,255
-----------
Total Proceeds Published To Date For 1997 $14,343,232
-----------
Options and Warrants Outstanding:
Number Expiry Date Potential Proceeds
Share Purchase Wts. 753,500 $0.75 Jan. 26,1998 $565,125
Share Purchase Wts. 1,000,000 $0.75 Mar6,1998 $750,000
Share Purchase Wts. 2,475,000 $1.52 Jan. 31,1999 $3,762,000
Compensation Options 75,000 $6.375 Apr. 4,1999 $478,125
Stock Options 1,295,000 $3.85 Feb. 3,1999 $4,985,750
Stock Options 60,000 $5.17 Apr. 18,2002 $310,200
Stock Options 330,000 $3.85 June 2,2000 $1,270,500
-----------
Proceeds All Wts.And Options to June 2,1997 Exercised: $12,121,700
------------
Participants in the 2,475,000 $1.32 shares with Wts. to exercise @ $1.52 Jan 31,1997 :
Amount Position
515082 B.C.(Catherine McLeod) 250,000 President
Douglas Forster 250,000
Bob Hartvikson 250,000
Blayne Johnson 250,000
Gerald Phillips 686,000 (Former)President
Druval Westcott 150,000 (Former)Director
Norma Westcott 150,000 Wife
Pacific Island Trust(Jeffrey Gee) 100,000 Smithers
John Chalcraft 7,500 I.R.
Arne Poetker 15,000 (Former Director)
Douglas Ward 27,500 FormerDirector)
Eugen Bekar 175,000 Smithers
Elizabeth Ann Duda 100,000 Smithers
Frontier Chrysler (Mark Bandstra) 39,000 Smithers
John Ball 25,000 Consulting Geologist ---------
Total Shares Issued 2,475,000
Total Wts. Issued 2,475,000
Participants in $3.85 Options of Feb.3,1997:
Name Number Amount Expiry Date Position
348 Sail View Ventures Ltd. 20,000 Feb.3,1999 Who is this?
Samantha Cramer 50,000 " Internal I.R
Thomas C. Shrake 300,000 " CEO
Catherine McLeod-Seltzer 460,000 " President
Chris Thompson 150,000 " Director
Tony Petrina 150,000 " Director
Quarry Capital 50,000 " Who??
Adobe Capital Inc. 100,000 " ????????
Alan McKerran 100,000 "
Robin Blues 15,000 " (Former) Legal Counsel
Carmen Morales 10,000 June 2, 2000 Worked with CMS
David Ernst 75,000 June 2, 2000 Chief Geologist
Bill Gehlan 75,000 " Exp.Mgr.Geologist
Marjorie Scherer 20,000 " Who???
William Myckatyn 150,000 " Director
----------
Total 1,725,000
----------
Kathyrn Church Options @ $5.17 60,000 April 18, 2002
Jorge Brito Options Nov.96 @ $1.25 100,000 Nov.6,1998 Geologist S.A.
John Chalcraft Options @ $1.25 50,000 Nov.6,1998 I.R.
-------
Total 210,000
-------
The options to Jorge Brito and John Chalcraft do not show up in the published totals in the July 31, 1997 Quarterly Summary. I don't know if they were exercised or cancelled.
Participants in Special Warrants @ $6.375:
Names Amount
Catherine McLeod-Seltzer 125,000
Blayne Johnson 100,000 ( There's that name again!)
Rob Hartvikson 100,000 (Always with him)
Douglas Forster 125,000 (He pops up everywhere also)
Deans Knight Capital Mgt. 35,000
Altamira Management Ltd. 220,400
Banque Eurofin 73,000
Van Eck Int.Inv.Gold Fund 65,000
Van Eck and Assoc. 35,000
532477 B.C. Limited 50,000 Who's This?
John Tognetti 50,000
19 other smaller placees 392,200 Not named
-----------
Total Warrants Bought 1,370,600
-----------
CMS Holdings 250,000 shares @ $1.32 (Paid)
250,000 wts. @ $1.52
460,000 options @$3.85
125,000 SP.Wts. @ 6.375(Paid)
---------
Total 1,085,000
We do not know who owns the shares or warrants behind some of these companies, which are either numbered or named companies. When I talked to John, to confirm the amount of money in the pot, just before his departure from PFG, he said the amount at that time was just over $11,000,000. If they have a burn rate of say, $4 million a year, then they have enough for nearly 3 years of exploration and other expenses.This would take them through to the fall of 2000.
Provided they can increase the value of the stock to higher
levelsJ, there would be a little over $12 million added
to the pot if all warrants and options were exercised.
This has been a long exercise for me, and I hope that everyone takes a copy, so that you can add or subtract from these figures as expiry dates are reached, more options are granted, or shares issued. (What an awful thought!)
Cheers
Shirley |
