RE:INSIDER ACTION !!!!!It’s starts with 10 M warrants, then it’s according to the drawing of each one of the $10M tranches. For a maximum of 54M warrants, they reach 54M only if PLI uses all of the credit line...//// No need to panic !!!
“Prometic has granted Structured Alpha LP an initial 10 million warrants with an exercise price of CAD $1.70 per common share with a term expiring June 30, 2026, alongside an additional 44 million warrants at the same exercise price and term, which will vest in tranches each time Prometic draws an additional amount of USD $10 million (CAD $12.5 million) under the Credit Facility. Drawing on the first 4 tranches of USD $10 million (CAD $12.5 million) would each cause 5 million warrants to vest, whereas the drawing on the second set of 4 tranches of USD $10 million (CDN $12.5 million) would each cause 6 million warrants to vest. Any amount drawn from the Credit Facility will bear interest of 8.5% per annum and the principal will be repayable on November 30, 2019.”