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Gold/Mining/Energy : International Properties Group (IPX-TSE) -- Ignore unavailable to you. Want to Upgrade?

To: Dennis Lefebvre who wrote (24)	5/6/1998 9:49:00 PM
From: mark calgary	Respond to of 104

Dennis - you are not alone. International Properties Group Ltd - $35m acquisition facility obtained International Properties Group Ltd IPX Shares issued 30632896 1998-05-04 close $1.36 Tuesday May 5 1998 Mr. W. Judson Martin reports The company has reached agreement with General Electric Capital Canada for a $35-million acquisition facility. The facility has a term of three years from the date of closing which is expected to occur on or about Jun. 1, 1998. (c) Copyright 1998 Canjex Publishing Ltd. canada-stockwatch.com

To: Dennis Lefebvre who wrote (24)	5/29/1998 8:22:00 AM
From: mark calgary	Read Replies (2) \| Respond to of 104

Well - here is the good news - lets see what impact this has. Second quarter results International Properties Group Ltd IPX Shares issued 30,632,896 May 28 close $1.27 Fri 29 May 98 News Release Mr. W. Judson Martin reports International Properties Group (IPG) commenced operations on April 30, 1997, therefore there are no comparative financial results. Revenue for the three months ended April 30, 1998 amounted to approximately $18.4-million, resulting in net earnings of $961,000 and cash flow from operations of approximately $1.9-million. On a per share basis, net earnings were 3 cents and cash flow from operations was 6 cents. Compared to the first quarter of 1998, revenue increased by 20 per cent. Net earnings and cash flow from operations were up 46 per cent and 69 per cent respectively. The company's earnings and cash flow per share for the second quarter increased 50 per cent over the level achieved in the first quarter of 1998. For the six month period ended April 30, 1998, revenue was $33.8-million; net earnings amounted to $1.6-million; and cash flow from operations was $3.1-million. On a per share basis, net earnings were 5 cents and cash flow from operations was 10 cents. The company is finalizing its agreement with General Electric Capital Canada, for a $35-million acquisition facility. This agreement will provide the necessary capital to profitably increase the company's existing asset base by approximately 250 per cent - through the acquisition of up to 4,000 additional multi-family units over the next six to nine months. IPG currently owns 1,935 multi-family residential units. These financial results represent the fourth consecutive quarter in which IPG has recorded profitable growth. IPG fully expects this trend to continue as it acquires additional revenue properties and launches new condominium conversion projects throughout the year. IPG remains confident in its ability to deliver, as promised, cash flow of 24 cents per share for fiscal 1998. IPG's condominium conversion division continues to produce excellent results, reflecting the strength of the company's unique process and experience of its acquisition and sales personnel. Currently IPG has 526 units sold or under contract. FINANCIAL HIGHLIGHTS Three months ended April 30 (thousands of dollars) 1998 Revenue $18,403 Operating expenses 16,654 Operating earnings before taxes 1,749 Net earnings 961 Cash flow from operations 1,917 Earnings per share (cents) 3 Cash flow per share (cents) 6 FINANCIAL HIGHLIGHTS Six months ended April 30 (thousands of dollars) 1998 Revenue $33,768 Operating expenses 30,816 Operating earnings before taxes 2,952 Net earnings 1,620 Cash flow from operations 3,051 Earnings per share (cents) 5 Cash flow per share (cents) 10 (c) Copyright 1998 Canjex Publishing Ltd. canada-stockwatch.com