RE: Brilliant sorry been trying to follow this conversation here but seem to have gotten a bit confussed. Hoping someone can clear something up for me.
It is my understanding that Dec 14 2012 was the closing of the last PP. In that there was a 4 month hold period which is set to be released April 14th 2013. Approx 20 M common share worth. As part of that there was equal amounts of shares in the form of warrents which were set to expire 12 months from the date of the offering, which was November 2012, which I take to mean they don't expire untill end of the year November 2013.
Yet as per the conversation it is believed that April 14 2013 is the date the warrents expire. Why do I have this wrong.
Kane Biotech Announces Closing of Private Placement Offering
WINNIPEG, Manitoba (December 14, 2012) - Kane Biotech Inc. (TSX-V:KNE) (the "Corporation") today announced closing of the Corporation's previously announced non-brokered private placement offering (the "Offering") units ("Units") at a price of $0.08 per Unit. Each Unit is comprised of one common share of the Corporation (a "Share") and one Share purchase warrant (a "Warrant"). Each Warrant entitles the holder thereof to purchase one Share at a price of $0.15 per Share for a period of 12 months from the date of issuance of the Warrant. At the closing the Corporation issued 18,035,000 Units for aggregate gross proceeds of $1,442,800.
The Common Shares and Warrants forming the Units issued pursuant to the Offering will be subject to a hold period of four months and a day in accordance with applicable securities laws.Certain persons assisted the Corporation by introducing potential subscribers for the Offering and will be entitled to receive: (i) a finder's fee, payable in cash, equal to 8% of the total subscription proceeds received from subscribers introduced to the Corporation by such finder; and (ii) Share purchase warrants ("Compensation Warrants") equal to 8% of the number of Units sold pursuant to the Offering to subscribers introduced to the Corporation by such finder. Each Compensation Warrant shall entitle the holder thereof to purchase one Share at a price of $0.08 per Share for a period of 12 months form the date of issuance of the Compensation Warrant.