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Biotech / Medical : Nortran Pharmaceutical -NRT.V -- Ignore unavailable to you. Want to Upgrade?

To: Saracen who wrote (852)	6/3/1998 1:01:00 AM
From: Wisee	Respond to of 1185

Saracen, Let's say after the financing Nortran has 40 million shares outstanding, then it's price should be around $3.15 if we are comparing it to Forbes Medi-Tech (present market cap is $126 million). But remember, Nortran will have approx. $18 million in cash, while Forbes Medi-Tech presently has $9 million. In regards to the financing, I think it will done between $1.80 - $2.00. It will be interesting to see who takes a position in this financing. Wisee

To: Saracen who wrote (852)	6/3/1998 1:52:00 AM
From: Ms. Forthright	Read Replies (2) \| Respond to of 1185

Nortran now has a problem. It has been way oversold, and share price is ridiculously low. Mr. Rieder has said that they will not lower the price of the financing, that the company was simply worth too much for such a maneuver. However, more recently I have also heard that the price may come down a bit. I know that the company is set to list on the TSE... all they need is the money from this financing. The TSE listing is definitely desirable at this stage, but it is only a matter of time before another deal is struck with further share price escalation. A financing could then be done with less dilution. They have sufficient funds already to continue work for some time. I suspect that the financing will be completed, but I'm not so sure that this is best for shareholders. I have noticed a lot of selling from Canaccord and McDermid. I may be wrong but I wonder if they are trying to hammer the share price in order to get a better deal on the placement. Of course if this is the case when the financing closes the reverse will take place. We'll soon know.