BZAM Ltd C.BZAM

RE:RE:RE:RE:RE:RE:RE:RE:RE:Warrants

[OneInvestor77]

UserError wrote: That's the one thing I'm not sure about on the term sheet.

1. Warrants are transferable (not explicitly exchange listed).
2. Hold Period Common Shares and Warrants are subject to 6-month contractual escrow period from the date the common shares are listed ("Listing Date").
3. The Warrant Shares will be subject to a twelve-month contractual escrow period from the Closing Date.

Closing Date would usually be the date the financing closed, which was over 12 months ago. That's what's confusing. The argument could be that the closing date would actually be the date the warrant exercise closes (different in each scenario). I would have expected more language on that though.

Just an additional point I'll add. If the date is based on when the warrants are exercised, it would mean each investor would have a different restriction date. That's kind of crazy and I don't think that would happen. Brokers wouldn't want to manage that.

UserError, I believe the exercise of the warrants, like the common shares from the PP's was to start the timeline from when TGOD actually started trading, which is tomorrow. So the common share hold period will be 6 months from tomorrow, making the shares tradeable on Oct 2nd & the warrant period starting from May 2nd as well, that's my understanding and I've asked on different occasions for the clarity.