looks good - buyDirectors and officers of the Company acquired 1,024,090 Special Warrants for gross proceeds of approximately $1,228,908 pursuant to this first tranche of the Offering.
Each whole Warrant will entitle its holder to purchase one additional Common Share for $2.00, expiring on May 13, 2013. In the event that the Common Shares trade at a closing price on the TSX Venture Exchange of $4.00 or higher for a period of 15 consecutive trading days at any time after September 14, 2011, the Company may accelerate the expiry date of the Warrants by giving notice to holders thereof and in such case the Warrants will expire on the 30th day after the date on which such notice is given by the Company.