International Precious Metals (IPMCF) Message Board

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Gold/Mining/Energy : International Precious Metals (IPMCF)

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To: Bob Jagow who wrote (31174)	3/24/1998 1:39:00 PM
From: Raye Derickson	Read Replies (2) of 35569

Bob.....this is the press release from last year: Toronto, March 6, 1997 - International Precious Metals Corporation announced today that it had signed a letter of intent to acquire the balance of ownership of its Arizona BRX (Rock Extended)property from Phoenix International Mining Inc. The letter of intent provides that IPM will pay an aggregate of US $27,000,000 to Phoenix on or before July 15, 1997, consisting of 1 million common shares and $17,000,000 in cash. The 1 million common shares will be subject to an escrow agreement to be executed by IPM and Phoenix. The completion of the transaction is conditional upon approval of same by the boards of directors of both companies as well as the execution of a more formal acquisition agreement. Omega's betting on the future just like we are. Not quite the "comedown" you speculate...they own a sizeable piece of the company plus the smelter %age as a dividend. Interesting, Raye

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