EXPM:HRTFF - Post by User
Comment by
MudCreekeron Dec 04, 2021 10:07am
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Post# 34198225
RE:Appian warrants...
RE:Appian warrants...Justrelax, this has taken off into the realm of fantasy. No one in their right mind exercises warrants that are 800% out of the money. Appian are sane. Therefore, not going to happen.
But even if they wanted to, they couldn't.
Have you read the terms of those warrants, especially the 55 million from last year? I have. Those represent the bulk of the warrants you're talking about, and were granted as part of the New Gold financing. If I remember correctly (feel free to look this up and correct me), they are subject to a couple of conditions. They can only be exercised if Newgold exercises the warrants that they were issued in the financing. And they can only be exercised between March 24 and June 24, 2022 . Hence the term "deferred participation".
Even if they can talk New Gold into exercising wildly out of the money warrants, they can't do it for a few months yet. No telling how long they can spin this thing out, but the fat lady will surely have sung by then.