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Gold/Mining/Energy : Tracer Petroleum (TCXXF) -- Ignore unavailable to you. Want to Upgrade?

To: James Strauss who wrote (483)	3/9/1998 7:00:00 PM
From: virginijus poshkus	Respond to of 1261

James , someone put the hot iron right up their ass. i cannot believe that something good is going to happen. Hellaluah. vargas

To: James Strauss who wrote (483)	3/9/1998 7:04:00 PM
From: Jim Daly	Read Replies (1) \| Respond to of 1261

"TCXXF announces a non-brokered private placement of up to 12 million units at $0.20 US per unit." Doesn't look like good news to me. I think this means that they are issuing 12 mil more units of common stock and 6 mil more warrants expire one year from now. More dilution. Damn. Here comes 1/8th. The good news is that this is not a public offering....Private..Hmmm I wonder what that means. "The Placement will be issued in two tranches, the first in an amount up to 9 million units to a group with proven financing and capital raising abilities, and the second in an amount up to 3 million units to a group comprised of management and various associates." What group is this? Someone with PROVEN FINANCING? Sounds like they may be taking a partner. The other 3 mil goes to the insiders. Judging from the reaction of the market I'd say that they could care less.