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Gold/Mining/Energy : International Precious Metals (IPMCF) -- Ignore unavailable to you. Want to Upgrade?

To: Bob Markley who wrote (26576)	11/15/1997 9:35:00 PM
From: kimberley	Read Replies (3) \| Respond to of 35569

<<<< If indeed the convertibles are redeemable at 125% of last weeks price, >> Kim, ... convertible at 125% of say 5 day price is the right of the note holder to convert to shares; redeemable is the right of the company to force conversion at 125% to shares, if they deem so, we have to see the terms to see if restrictions on the redemption or conversion. ---------------------------------------------------------------------------------------------- from IPM PR <<IPM is finalizing a private placement with several institutional investors for up to US $10 million. The placement will be in the form of a redeemable convertible note with the conversion price based on 125% of IPM's share market price. Proceeds from the placement will be utilized for general corporate purposes in the further development of the Black Rock project. The Company expects to draw down on this financing before the end of the month.>> sorry my littl' ole brain didn't understand, Bob. What is a redeemable convertible note? dumblittlekim