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Gold/Mining/Energy : Pacific Rim Mining V.PFG -- Ignore unavailable to you. Want to Upgrade?

To: Phil Jones who wrote (9357)	3/31/1998 11:07:00 PM
From: Harmattan	Respond to of 14627

Phil, the warrants were exercised. from SEDAR, "During the quarter, 746,000 non-transferable share purchase warrants were exercised at $0.75 each, netting $559,500 Cdn to Pacific Rim's treasury." and while i'm at it, SEDAR answered the question i asked. "Under the terms of the Option Agreement (bolding mine), Pacific Rim can acquire a 100% interest in the property by issuing to Corriente up to 400,000 common shares as to: (a) 100,000 within 10 days of the execution of the formal Option Agreement; (b) 100,000 on the first anniversary of the execution of the Option Agreement; (c) 100,000 on the second anniversary of the execution of the Option Agreement; and (d) 100,000 on the third anniversary of the execution of the Option Agreement. Upon exercise of the option, a 1% net smelter royalty will apply with a $Cdn one million buyout. The Cateo is subject to an option agreement between Cavok SRL and Corriente, and Pacific Rim has agreed to assume all rights as set out in that agreement. These obligations include underlying payments totaling $US 1.3 million over a period of three years and a 2% net smelter royalty with two buyout payments of $US 582,500 each." check SEDAR for three documents PFG filed yesterday. sedar.com ok, lousy link. try sedar.com and go from there. ghunk