TSO3's response re: listing of warrants, and my reply. Good morning,
For your information, as of today, TSO3 doesn’t intend to apply to have the warrants listed.
If you want to exercise your warrants, you can contact our Warrant Agent at:
Computershare Trust Company of Canada
1500 University Street, Suite 700
Montral, (Qubec) H3A 3S8
Fax: (514) 982-7677
Attention: Manager, Corporate Trust
Best Regards.
lna Simard-Veilleux, CPA, CA
Chef de la direction financire intrimaire / Interim Chief Financial Officer
Good Morning Ms. Simard-Veilleux,
Thank you for your reply to my question, and for the information about your warrant agent.
I am disappointed with TSO3's decision not to apply to list list the warrants, and as a
shareholder, would have voted for applying for the listing of the warrants. TSO3 is a public
company, all the more so because of the secondary offering of the units, part of which I
purchased, and still own. As the shares of a company become more widely held, it
becomes increasingly more important that the various securities issued by that company
be easy to trade. Most investors would appreciate the additional flexibility that listing the
warrants would provide. If the warrants were easier to trade, it is more likely that the
warrants would go into the hands of investors who would exercise the warrants and hold
the stock. Investors, who are satisfied with the extent of their holdings of the company who
hold the warrants, will simply exercise the warrants and then sell the resulting stock they
obtain from the exercise, possibly resulting in a reduction of the market value of the stock.
I ask the directors to reconsider their decision to not apply for the listing of the warrants
for trading, in the interests of all shareholders.
Respectfully,