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Microcap & Penny Stocks : MDU Communications Inc. - MDTV -- Ignore unavailable to you. Want to Upgrade?

To: myturn who wrote (667)	8/26/1999 9:20:00 AM
From: scouser	Read Replies (1) \| Respond to of 994

Got this from RB....... Here is the latest news regarding financing, Groome Capital out of Montreal is providing $2.5 million US, they get 2 mil shares at $1.25 with a warrant. Not sure of the term though. Deal should close in a couple o days, and PR will follow. So 2 mil shares will be added to the 9.6 mil float, some dilution, but cash is covering the expansion so it is a solid deal. Sheldon is currently in Chicago working another financing deal for $2 / share. The selling we are seeing is investors taking a hit to buy back later with a warrant, so we should some more selling at the 1.20 range. This is only thr beginning. Once MDU gets the infrastructure laid and a revenue stream we will see big movement, just be patient. Later all.