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Gold/Mining/Energy : Pallet Pallet Inc.

PPAL 60.10

0.0%

Nov 7 9:30 AM EST

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To: Scott Mc who wrote (104)	2/24/1997 3:23:00 PM
From: Robert van Mil	of 451

Pallet Pallet Inc - News Release Common share offering priced Pallet Pallet Inc PLT Shares issued 30241611 1997-02-21 close $0.32 Monday Feb 24 1997 News Release Ms S.M. Topping reports The company has priced the treasury offering reported in Stockwatch November 22 1996. The syndicate for the public offering, First Marathon Securities, along with Porthmeor Securities, currently has expressions of interest for approximately 13.3 million shares at $0.30 for a total of approximately $4.0 million. The offering also provides for a 15% over allotment option (approximately 2.0 million shares). In addition, First Marathon has agreed to subscribe for $1.0 million of common shares. The company will use those proceeds to repay debt owing to First Marathon. The proceeds are expected to be used to retire existing debt and for working capital. The completion of this offering will also satisfy one of the conditions precedent to a US$22.2 million credit facility with Bank of America Canada and BankAmerica Business Credit. (c) Copyright 1997 Canjex Publishing Ltd. canada-stockwatch.com

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