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Gold/Mining/Energy : Infowave Wireless Messaging IW:TSE
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To: ddl who wrote (720)6/1/1999 12:09:00 PM
From: ysell  Read Replies (3) of 1690
 
I had a long conversation with Richard Mockett this morning.

To summarize:

1. The anticipated outside date for the closing of the PP is this Friday. The Company feels that the delay should not be viewed negatively as the timeframe for the completion of the private placement was quite short. As you will recall, the Company also had the right to refuse those parties it did not wish to sell the placement to. The Company is being selective and this is adding time. According to Mockett, the placement has been well received in Europe. The Company is only seeking investors that will support the Company for the long-term. A news release will only be issued if the Company does not sell all of the placement (although Mockett was to confirm this). Mockett anticipated the placement will be fully sold.

2. Mockett believes that the market has not yet realized the benefits of the Glenayre deal and that this will only be reflected after the closing of the private placement.

3. When asked whether we should expect more news releases in the next short while, Mockett noted that the Company is busy and has issued a number of releases in the past. He refused to be specific regarding future news.

4. Mockett stated again that it is a major Company objective to be listed on a senior Canadian exchange this year. He would not provide specific timing. When asked about Nasdaq, he noted that the Company does not forsee itself on Nasdaq in the near term, and that its 20F statement allows its shares to be traded in the US. So for now, it looks as if IWM will not be listed south of the border during 1999.

5. Mockett noted that the Company is continuing to grow, revenues are good and future operations are sound. He stated that revenues from the WK deal will not be realized until Q1 2000, (notwithstanding suggestions by other posters to the contrary).

Hope this is helpful.
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