RE:RE:RE:RE:RE:New documents out on Sedar- Nov 8 Happy to. On Page 9 of today's (Nov 8, 2021 Management Information circular - English) :
TSX Conditional Approval
On August 27, 2021, the Corporation received TSX Conditional Approval for the notice of Transaction and the listing of the shares, including the Contingent Shares, to be issued as consideration pursuant to the Transaction, subject to the Corporation fulfilling all of the conditions set out therein And from that TSX Form 51-102F3 Material Change Report on Sedar Aug 30,2021
8,000,000 common shares contingent upon the achievement of certain milestones (“Milestones”) and StageZero shareholder approval (the “Contingent Shares”).
In the event the Milestones are achieved, and the StageZero shareholders do not approve of the issuance of the Contingent Shares, StageZero is obligated to pay to Health Clinics Limited, in lieu of the Contingent Shares, CAD $16,000,000, payable at a rate of 9.5% out of StageZero’s monthly gross revenues. The Contingent Consideration becomes immediately payable in the event of a take-over bid.
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The forms have been filed with the TSX. Depending on the upcoming shareholder vote, once milestones are achieved iit's a just a matter of how they compensate them. Will it be an issuing of an additional 8 million shares or payout $16 million in payments as outlined.
molotov420 wrote: Can you please explain this to me. The original details of the acquisition showed this:
"8,000,000 common shares contingent upon the achievement of certain milestones ("Milestones") and StageZero shareholder approval (the "Contingent Shares")."
In todays news page 9 in the background section it says:
"The Corporation also agreed to issue an additional 8,000,000 Common Shares (the “Contingent Shares”) to Health Clinics Limited, contingent upon the Corporation’s obtaining shareholder approval of the issuance"
why no mention of milestones this time?! did they forget about the milestones?