RE: Warrants
"Looks like the jan 2007 financing was 35 million units comprising 35 million shares and 35 million warrants to buy half a share. So that would be 17.5 million shares not 35 million as suggested earlier were all warrants exercised. This info was gleened from the annual financials if I read them correctly."
********YOU ARE CORRECT*********
January 19, 2007 – Iciena Ventures Inc. (the “Company”) announces that further to its news releases of September 27, 2006 and December 22, 2006, the Company has now closed a private placement of 35,000,000 units (the “Units”) at a price of $0.10 per Unit for gross proceeds of $3,500,000.00. Each Unit consists of one common share of the Company (a “Share”) and one half of one share purchase warrant (a “Warrant”).
Each whole Warrant entitles the holder thereof to purchase one additional Share at $0.15 per Share for a two-year period expiring January 19, 2009.
The Company has paid a total of $175,000 in cash as finders fees.
The Company is entitled to accelerate the expiry date of the warrants forming part of the Units to the date that is 30 days following the date a news release is issued by the Company announcing
the accelerated expiry date in the event the Shares close at a price greater than $0.20 for 30 consecutive trading days at any time after the hold period has expired.