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Gold/Mining/Energy : International Precious Metals (IPMCF)
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To: Richard Mazzarella who wrote (878)12/20/1996 3:36:00 PM
From: Alan Vennix   of 35569
 
According to their Annual Report, as of 1/1/96 there were some 758,000 warrants outstanding with expiry date of Jan 1997 at a price of $1.20. Unclear whether any have been executed to date or whether all are still outstanding. There are an additional 1.7 MM warrants (original amount as of 4/3/96) expiring Feb 23, 1997 with a price of $2.82.

These are what they are counting on for additional operating monies.

AL
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