warrants set to expireThere are also a pile of warrants that look like they will go unexercised.
Likely too late to ask for an extension at this point (there was plenty of time this last year when they could have been exercised).
Good for the SP.
Bad for the company coffers.
Grant date: 6-Mar-17
Expiration date: 6-Sep-18
Warrants outstanding: 4,897,500
On March 6, 2017, the Company closed a non-brokered private placement. The Company issued 13,000,000 units at a price of $0.20 per unit for gross proceeds of $2,600,000. Each unit is comprised of one common share of the Company and one half of one common share purchase warrant. Each whole warrant will entitle the holder thereof to purchase one common share of the Company at a price of $0.35 at any time prior to September 6, 2018. In connection with the placement, the Company paid finder’s fees of $90,300 in cash and issued 451,500 non-transferable finder’s warrants. Each finder’s warrant will entitle the holder thereof to acquire one common share of the Company at a price of $0.35 at any time prior to September 6, 2018. See Note 7 for issued warrants’ ascribed estimated fair values. 1,250,000 of these shares were sold to related parties of the Company.