RE:RE: Hell-bent on keeping this sp down until tommorow ???stockwatcher.
According to the SIC press release dated March 30, 2021, Sprott can exercise the warrants he recieves 24 months after the closing date of the private placement (with each warrant entitling him to purchase SIC shares at a price of 0.40 per share.
According to SIC's press release dated April 6, 2021, the private placement has been closed, so assuming it closed on April 6, 2021, wouldn't that mean SIC would not get the proceeds from the warrants until Sprott decides whether to exercise them on the date 24 months after closing by purchasing additional shares at 0.40, which would be April 6, 2023?
If so, Sprott is in a great position:
He has two years to see what SIC's share price does, and if it is considerably higher on April 6, 2023, he can exercise his warrants to buy new shares at 0.40 each. Conversely, if the shares are not worth over 0.40 per share on that date, he can simply let the warrants expire.
Am I correct on the above?