44m share warrants out of money? The following table has been extracted from the December 2010 MD&A Report.
The upshot from this information is that, out of 44,538,327 warrants outstanding at December 2010:-
- 18,494,936 warrants have already expired out of money.
- 2,574,567 warrants will expire out of money on 19 August 2011, unless the SP exceeds
.48. - 12,531,323 warrants will expire out of money in the quarter to March 2012, unless the share price exceeds
.65. - 10,937,501 warrants will expire out of money by this time next year, unless the share price exceeds $1.00.
- A total of 44,538,327 warrants in 1-4 above, as per the MD&A table below.
The potential share dilution will be reduced if the remaining warrants expire out of money. However, if these remaining warrant are excercised, it will be as a result of the present SP increasing by up to 400% to $1.00 and the warrants will add cash at this price to Metanor’s treasury.
Most of these warrants would have been issued as a result of the capital issues to Sprott .........
Outstanding purchase warrants
| 2010-12-31 | 2010-06-30 |
| Expiry date | Exercise price | Number | |
| March 20, 2011 | 0.50 | 768,657 | |
| March 20, 2011 | 0.65 | 13,254,229 | |
| April 20, 2011 | 0.50 | 149,700 | |
| April 20, 2011 | 0.65 | 1,322,350 | |
| May 16, 2011 | 0.99 | 3,000,000 | |
| August 19, 2011 | 0.48 | 2,574,567 | |
| December 12, 2011 | 0.50 | 881,806 | |
| December 12, 2011 | 0.65 | 6,739,517 | |
| January 8, 2012 | 0.65 | 2,000,000 | |
| March 5, 2012 | 0.65 | 2,850,000 | |
| March 29, 2012 | 0.65 | 60,000 | |
| May 15, 2012 | 1.00 | 9,375,001 | |
| June 20, 2012 | 1.00 | 1,250,000 | |
| July 19, 2012 | 1.00 | 312,500 | |
| | | 44,538,327 | |