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Gold/Mining/Energy : Jetform-FORM
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To: Graham Dellaire who wrote (321)7/4/1998 11:06:00 PM
From: David Robinson  Read Replies (1) of 530
 
Re: Special Warrants

It's my understanding that buyers paid the full $21.25 for each warrant, and that no further consideration is payable to convert the warrants into shares. So obviously they will all be converted.

There are regulations of some kind that say a prospectus is required before the company can issue new shares... (perhaps someone more knowledgeable can explain?) So warrants are used to lock in the deal, convertible to shares once the prospectus is approved by the regulatory authorities.

So these shares have already been bought and paid for, it is just a technicality now to convert the warrants into shares.

David
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