Delta 9 set a ceiling on their stock price at 55 cents. If any of you buy over 55 cents you are paying a premium to the market. The share price will tank once Leedes closes the bought deal. Leedes Algo is auto buying at 55-56.
From March 2020 (7.5) to September 2020 (10.5) - Debentures have increased by 3 mill. The conversion of debentures.
From December 2019 to September 2020 - Delta 9 has drawn 7.5 mill off their line of credt. See page 6 on recent cash flow statement. Delta 9 is manipulating net income figure by drawing cash off the credit facility.
The cash received will go towards working capital (paying salaries).
Prior Sales During the 12-month period prior to the date of this Prospectus, the Corporation issued Common Shares and securities convertible into Common Shares as follows:
(a) On November 27, 2020, the Corporation granted 1,238,050 Options to certain directors, officers, employees and consultants of the Corporation in accordance with the Stock Option Plan. Each Option is exercisable into one Common Share of the Corporation at an exercise price of $0.60 per Common Share for a period of five years from the date of grant. The Options vest over twelve months, with 50% vesting every six months from the date of grant.
(b) On November 27, 2020, the Corporation granted 1,228,500 RSUs to certain directors of the Corporation in accordance with the PRSU Plan. Each RSU is redeemable into one Common Share of the Corporation for period of five years from the date of grant. The RSUs vest over twelve months, with 50% vesting every six months from the date of grant.
Restricted Share Units:
On June 25, 2020, the shareholders approved the performance and restricted share unit plan of the Company, which is an award under an equity incentive plan of equity-based instruments that do not have option-like features, including shares, restricted shares, performance share units, restricted share units, deferred share units, phantom shares, phantom share units, share equivalent units, and stock.
On August 17, 2020, the Board of Directors approved awarding of 1,590,056 restricted share units to certain directors and officers of the Company. 990,056 restricted share units vested on the same date as these relate to past services provided by the directors and officers and the remaining 600,000 restricted share units will vest on June 30, 2021. An amount of $673,238, being the fair value of these units based on the closing TSX share price of the Company on the day before vesting date, was recorded in these consolidated interim financial statements. 990,056 common shares were issued in October 2020.
As of September 2020 statement there were 2.8 million warrants at an exercise price of 55 cents. The new bought deal is 9 million units at 55 cents with 1/2 warrants at 70 cents (4.5 mill).
Get used to 50-55 cents at a max price.