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Gold/Mining/Energy : Palmer Resources Ltd. (PMD.V) -- Ignore unavailable to you. Want to Upgrade?

To: Nikole Wollerstein who wrote (125)	2/8/1998 12:59:00 AM
From: The Barracuda™	Read Replies (1) \| Respond to of 210

are you a principle of Palmer?

To: Nikole Wollerstein who wrote (125)	2/8/1998 10:10:00 AM
From: The Barracuda™	Read Replies (1) \| Respond to of 210

Mr Jerry Pogue reports The company has entered into a loan agreement with Edge Medical, a Washington State company, to advance US$2 million in consideration of a promissory note bearing interest at prime plus 1%. Edge is in the business of providing products and services designed for use within the medical field and own certain proprietary technology and licence agreements used in the blood irradiation industry. The company has taken security over specific assets, has received trust agreements, undertakings from US counsel for Edge, and personal covenants and guarantees of the principals of Edge. The company's principal business continues to be resource exploration and development and in accordance has raised over $16 million by way of private placements. In addition to the amounts expensed to date, the company has reserved a further $7 million to cover fixture exploration programs and general working capital. The balance has not been allocated to any of the company's principal business activities. The directors believe that the Edge loan represents a reasonable business use for this unallocated working capital. Edge is an arms-length company to the company. The company may convert its interest in this promissory note to a convertible instrument in a publicly traded Alberta company. Additional details will be provided as they become available.