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Gold/Mining/Energy : Unitec Int. Controls Inc. -- Ignore unavailable to you. Want to Upgrade?

To: canadian crude who wrote (597)	11/4/1998 11:29:00 AM
From: John B. Smyth	Read Replies (2) \| Respond to of 856

SOCO have requested we do not release the interest rate, but I can say it is very attractive (single digit) for the loan, and the convertible debenture is a bit higher. This financing will provide the wherewithall to accelerate our growth. The Sask operations will operate at a loss for 18 to 24 months as we will embark on a major new development. Revenues for Sask will be "jump started" to a degree as we will transfer certain projects there. Our Burnaby operations will accelerate its growth and earnings as some of the overheads and R&D will be moved to Sask. On a consolidated basis, the resulting earnings will offset the startup costs to a large degree. The net result should see our revenues move dramatically upward and profits continue to climb. Howard put it rather nicely the other day when he remarked "Unitec's past financings only filled the pot holes in the road behind us. This financing paves the highway ahead". There will be some significant announcements to follow. This debt load will cost less than the interest and fees we have been paying on the loans we had to secure to finance this years growth. While there will be some overlap, the interest earned on the cash deposits will substantially offset this. What you can expect to see at the year end is a low seven figure working capital position and a high six figure cash position. This will allow other commercial financing to flow through at reasonable rates as we move forward. This is the most significant event for our Company since we went public. Regards, JBS

To: canadian crude who wrote (597)	11/11/1998 10:04:00 PM
From: csm	Respond to of 856

Some answers to your questions. Stuart. --- Loan agreement; bonus shares Unitec International Controls Corp UIC Shares issued 21,209,129 Nov 10 close $0.34 Wed 11 Nov 98 Miscellaneous The VSE has accepted for filing a loan agreement dated Nov. 4, 1998, between Unitec International Controls and Saskatchewan Opportunities Corp., whereby Saskatchewan Opportunities has provided a loan of $1,000,000. The loan has a term of five years with interest of prime plus 1.5 per cent. The VSE has accepted for filing a bonus of 200,000 shares payable to Saskatchewan Opportunities Corp. (c) Copyright 1998 Canjex Publishing Ltd. canada-stockwatch.com