any body at the AGM last monday? June 25 anual and special shareholders meeting in Toronto, any feedback?
All I know is that everything was approved, including the Ammending Warrants proposal, not sure if this is good or bad, more warrants, what do you think?:
On March 26, 2012, the Corporation made certain amendments to the terms of the outstanding March Warrants (the
“March Warrant Amendments”) and the outstanding April Warrants (the “April Warrant Amendments”), to: (a) extend
the expiry date of the March Warrants from March 27, 2012 to September 30, 2012; (b) to extend the expiry date of the
April Warrants from April 8, 2012 to September 30, 2012; and (c) amend the terms of the March Warrants and the April
Warrants (collectively, the “Warrants”) such that each Warrant shall be exercisable to acquire one unit (a “Unit”) of the
Corporation, instead of one Common Share, at a price equal to: (i) in the case of the March Warrants,
.30 per Unit; and
(ii) in the case of the April Warrants,
.35 per Unit. Each Unit consists of one Common Share and one-half of one
additional Common Share purchase warrant (an “Additional Warrant”), with each Additional Warrant exercisable to
acquire one Common Share until March 30, 2013 at a price of
.40 per Common Share.
The Toronto Stock Exchange (the “TSX”) conditionally approved the Warrant Amendments, subject to the Corporation
fulfilling all the conditions of such approval including obtaining the approval of the March Warrant Amendments by a
majority of the Corporation’s shareholders voting at the Meeting, excluding the holders of the March Warrants that are
insiders of the Corporation (the “Disinterested Shareholders”). The Corporation seeks such approval in order to provide
the Corporation with a further means of raising additional capital through the potential exercise of the March Warrants.