Share Capital
As at the date of this MD&A, there were 133,901,482 Common Shares outstanding.
At March 31, 2019, Debentures in the aggregate principal amount of $24,422 were outstanding. Each Debenture is convertible into common shares for a period of six years following the issuance of such Debenture.
At March 31, 2019, there were 101,849,687 common share purchase warrants outstanding with a weighted average exercise price of $0.40, expiring in 2023. The warrants were issued as result of the subordinated capital financing, under the Credit Agreement and under the US $12,000 Term Loan as described under the "Business Highlights – Financings – US $12 Million Term Loan" heading of this MD&A.
At March 31, 2019, there were 1,615,501 fully vested stock options outstanding, with a weighted average exercise price of $1.47 and a weighted average remaining contractual life of 1.7 years. There were also 2,496,999 unvested stock options outstanding with a weighted average exercise price of $0.66 and a weighted average remaining contractual life of 3.8 years. No stock options were granted or exercised in the three months ended March 31, 2019 or 2018.
At March 31, 2019, there were 7,505,622 RSUs outstanding, of which 2,133,513 are vested and issuable as Common Shares. The remaining 5,372,109 RSUs vest within 1.4 years. Each RSU entitles the participant to receive one Common Share for each vested RSU. During the first quarter of 2019, no RSUs were granted (2018 – 61,983) and 1,961,665 Common Shares were issued upon the vesting of RSUs (2018 – 175,000).
Each stock option entitles the holder thereof to acquire one Common Share of UrtheCast.