Santos Ord Shs T.STO

RE: RE: RE: RE: RE: Management attitude

[larsen6]

You're welcome.

Long and strong on STO as well.  In reading the recent news release on the warrants, I noticed the following the second time around.  To me this smells like those who were lucky enough to get the warrants may be actually getting them at about $4 ($4.40/1.1)  This would not surprise me based on what happened with the share issue at $2.85.  Will be interesting to see if the insiders bought any of the warrants.

Each Special Warrant will entitle the holder thereof to receive one common share (a "Common Share") of Spartan on the earlier of the date that is: (a) four months and a day following the closing, and (b) the day on which a receipt is issued for a final prospectus by the securities regulatory authorities in each of the provinces where the Special Warrants are sold (such provinces to exclude the Province of Québec) qualifying the distribution of the Common Shares issuable upon the exercise of the Special Warrants; provided that if a receipt is not issued on or before May 7, 2012, each Special Warrant will entitle the holder thereof to 1.1 Common Shares. Spartan shall use its commercially reasonable best efforts to obtain such receipt as soon as practicable. Until the receipt is issued for such prospectus, the Special Warrants will be subject to a four month hold period under applicable Canadian securities laws. the following the second time.