RE:Prev what a JOKE !!!A total of 130,799,750 units were issued under the financing at a price of five cents per unit for gross proceeds of $6,539,987.50. Each unit consists of one common share in the capital of the company and one common share purchase warrant, with each warrant entitling the holder to acquire one additional share at a price of 10 cents per share for a period of up to two years, expiring on June 29, 2020. In the event that the closing price of the shares on the Canadian Securities Exchange is at least 20 cents per share for a period of 10 consecutive trading days commencing four months and one day after the closing of the financing, the company may accelerate the expiry date of the warrants by providing notice to the shareholders thereof, and, in such case, the warrants will expire on the 30th day after the date on which such notice is given by the company.
I would imagine the goal is to get these warrants exercised which will put another $13,000,000 in the bank.