RE:They Just Started DrillingEach Unit consisted of one common share in the equity of the Company (each, a "Common Share") and one-half of one share purchase warrant (each whole warrant, a "Warrant").
Each Warrant entitles the subscriber to purchase one additional Common Share at a price of $0.40 until the second (2nd) anniversary of the closing date of the Placement. Notwithstanding the foregoing, in the event that, following the January 2, 2021, the volume weighted average price on the TSX Venture Exchange has been at least $0.70 for 20 consecutive trading days, the Company may deliver a notice to the holders of Warrants accelerating the Expiry Date to the date that is 30 days following such notice, and any unexercised Warrants after such period shall automatically expire.