Sept ...LMAO! Figure it OUT! LOL
Upon closing of the transaction, the corporation issued an aggregate of 37.5 million common shares in the capital of Laguna to the ISO member at a deemed price of 12 cents per share and made a cash payment of $500,000 (U.S.) as provided in the agreement. The company will pay an additional $5.5-million (U.S.) over the next 12 months.
The payment shares are subject to a four-month hold period under applicable securities laws expiring on Sept. 16, 2017, and are also subject to a subsequent voluntary hold period in which the payment shares will be released on a schedule of one-12th per month over a period of 12 months.
In connection with the transaction, the company issued 10,566,500 common shares at a deemed value of 12 cents per finder's-fee share to an arm's-length party to the company representing 10 per cent of the value of the transaction. The finder's-fee shares are subject to a statutory hold period expiring on Sept. 16, 2017.