RE: Credit Line details
Good morning everyone.
Will someone please explain Drawdown Warrants?
Pursuant to the terms of the Financing, the Company is also obligated to issue to the Lenders a further 1.25 million common share purchase warrants (the "Drawdown Warrants") for every US$25 million in principal of the Commitment that is drawn down. The Drawdown Warrants are exercisable at a price equal to 120% of the volume weighted average price of Cline's common shares over the previous 10 trading days on which a formal drawdown notification is given to the Lenders. Each Drawdown warrant is exercisable into one common share of the Company and will expire three years from their date of issuance
Thanks, and a Merry Christmas and a Happy New year to all.
PS I read over my post to northguy 12/15/11 and had laugh at what missed, In the post I said A (3) Both GCE and WTN are about the same distance from their mines to the port at Prince Rupert B.C. Neither one are on the CNR Main Rail Line they have come off of spur lines WTN first goes on the old Pacific Rail Road Line that turned into B.C. Rail Road Line that was sold by Premier Gordon Campbell for pennies on the dollar to The C N Rail Road.
And it should have been Pacific Great Eastern Rail way or as every one called it back in the 1950s (PGE) Please go easy
Just a little humour from the old days.
tinyhopes