RE:RE:Float - not what everyone thinksIt looks to me like te director shares are the ones in escrow:
A detailed breakdown of the securities to be escrowed is shown in the following table: Name Designation of Class Quantity Percentage of Class at the date of prospectus
Dr. Anthony F. Holler Common Shares 2,882,612 11.29%
Leith Pedersen Common Shares 4,678,251 18.33%
Section 3.5 of National Policy 46-201 –
Escrow for Initial Public Offerings (“NP 46-201”) provides that all shares of a company owned or controlled by a Principal (as defined in NP 46-201) will be escrowed at the time of the Company’s initial public offering, unless the shares held by the Principal or issuable to the Principal upon conversion of convertible securities held by the Principal collectively represent less than 1% of the total issued and outstanding shares of the Company after giving effect to the initial public offering. At the time of its initial public offering, an issuer will be classified for the purposes of escrow as either an “exempt issuer”, an “established issuer” or an “emerging issuer”, as those terms are defined in NP 46-201. Uniform terms of automatic timed release apply to Principals of exchange listed issuers, differing only according to the classification of the issuer. The Company anticipates that it will be classified as an “emerging issuer”. As such, the Company anticipates that the following automatic timed releases will apply to the securities held by the Principals listed in the table above: Date of Automatic Timed Release Amount of Escrowed Securities Released On the date the Company’s securities are listed on a Canadian Exchange
1/10 of the escrow securities 6 months after the listing date
1/6 of the remaining escrow securities 12 months after the listing date
1/5 of the remaining escrow securities 18 months after the listing date
1/4 of the remaining escrow securities 24 months after the listing date
1/3 of the remaining escrow securities 30 months after the listing date
1/2 of the remaining escrow securities 36 months after the listing date
The remaining escrow securities