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Technology Stocks : Thermo Tech Technologies (TTRIF)

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To: Tom McIlwain who wrote (4388)	6/25/1998 4:31:00 PM
From: Tom G	Read Replies (2) of 6467

Well I'm back from a week in the woods of central Ohio and I have to admit I was stunned by the price of TT.I couldn't help but get on the phone and make some calls to see what was going on. I have been told that the financing was delayed because the term sheet had to be rewritten.The loan will now be for $40 million instead of 34 million so everything had to be changed.TT was told they will have the financing in hand in 1 1/2 to 2 weeks.The same project manager at Richmond will head up the construction at Oshawa and Niagra,and he is ready to go.Materials have already been ordered and he is just waiting on the OK by Rene. As for Europe TT should have a listing over there in about a month if everything goes right.I apologize but I cant remember wich exchange it will be on I will call and get back on that. As for the Reg D financing from last year TT has taken the full ten million and will not take anymore of the remaining 16 they have decided to cancel the rest of that deal.This is good news,it proves what Rene has been saying all along that TT will not dillute anymore. The Grand Opening for Hamilton will be July 30 1998.BY second Q Hamilton will be up to full capacity of 800 tons per day. Tom G

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