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Gold/Mining/Energy : Pacific North West Capital Corporation-PFN on Alberta -- Ignore unavailable to you. Want to Upgrade?

To: Berry Picker who wrote (1944)	8/12/2000 6:07:32 PM
From: Brumell	Read Replies (2) \| Respond to of 2255

How much was Haywood trading for their own account and how much for clients, Elect? Obviously, I don't know the answer but offer a few considerations. In the PFN placement Haywood handled dated Nov.8th/99, they were to receive 7.5% of gross proceeds paid in cash plus 250,000 warrants to buy shares at 40 cents. This placement was for 2.5 million shares plus an equal number of warrants. How much was held by Haywood, I don't know. Moreover, the placement was later increased in size before closing. It's safe to say they had a lot of stock. When they realized they were out of future participations, they started selling and have been doing so for some time. Hopefully their recent downgrade indicates they are about tapped out. Bob