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Technology Stocks : Thermo Tech Technologies (TTRIF)

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To: DDS-OMS who wrote (4720)	9/3/1998 12:19:00 PM
From: Clement	Read Replies (1) of 6467

News... It would seem that Brent Mudry has toned down his sensationalism several notches. Check out the president of the company trying to sue Thermo Tech now... ============ Thermo Tech Technologies (TTRIF) Street Wire...$469,000 suit filed by Brent Mudry Thermo Tech Technologies faces a $469,000 suit stemming from a March private placement agreement. In a statement of claim filed Tuesday in the Supreme Court of British Columbia, Anglo Management claims it subscribed for 300,000 unites at $1 (U.S .) on March 27. Each unit consisted of one share and a warrant with no conversion price noted in the suit. Anglo claims it paid the full $300,000 (U.S.) on Mar. 27 subject to a complettion by Mar. 31. Anglo lawyer Howard Shapray of Vancouver claims Thermo Tech never consummated the private placement by the deadline and it has failed to refund his client's money. In a court-filed affidavit, Surrey businessman Laurence Liebowitz notes he is president of Anglo and he acts for the Burnaby-based company which changed its name from 561309 B.C. after the March financing deal. Court records note Anglo seeks a $469,000 garnishing order against Thermo Tech's account at a Langly branch of Canadian Imperial Bank of Commerce. Thermo Tech's shares have fallen from a 52-week high of $3 (U.S.) last November to a current price of 50 cents (U.S.) Thermo Tech hired Guidera Communcations, a U.S. broker relations frim to promote its stock on February 17 with the shares at the $1.41 (U.S.) level. By the end of March, with the private placement in the works, the stock had dropped to the $1 (U.S.) range.

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