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Gold/Mining/Energy : Infowave Wireless Messaging IW:TSE -- Ignore unavailable to you. Want to Upgrade?

To: ddl who wrote (597)	5/10/1999 5:58:00 PM
From: Ritch D	Read Replies (3) \| Respond to of 1690

Denis...they are not really warrants in the traditional sense....basically they are just a piece of paper that is exchangeable one-for-one into common shares when the prospectus clears...if they were ordinary shares they would only be issueable via prospectus offering..the special warrants gets around this...have to be sold to exempt buyers (usually $97,000 min. purchase)...it's just a Canadian financing gimmick to get around regular prospectus rules. Usually the price spread between existing free trading shares and the newly issued shares (spl. wts.) narrows...sort of like excess supply overhanging the market in the near term.