OTCPK:IVWFF - Post by User
Post by
99921on May 18, 2004 4:43pm
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Post# 7502821
PP Prior Approval
PP Prior ApprovalI have been a shareholder in several companies that have requested this prior approval to
exceed the TSX limits for privately placing shares. I believe the rationale is that, if a
significant opportunity arose requiring the sale of shares to generate cash, there would be
a real danger that the opportunity would be lost before the company worked its way
through the ponderous process to get approval to exceed the 25% limit. The TSX
regulations place restrictions on the company regarding timing, arm's length dealing and
control. The private placement lower price limit for a stock trading at $0.50 or less is 25%
below the current market price. At today's price, say 17 cents, IVW could sell pp shares at
13 cents.