OTCPK:RDLCF - Post by User
Comment by
ragloon Nov 27, 2021 2:14am
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Post# 34171750
RE:Warrants
RE:Warrants3.5 Million, not 2.5M
Terms of the CDN$7,000,000 term loan facility include: 10% interest rate, serviced with interest-only payments for the entire three-year term (only the first year interest is guaranteed), and the issuance of 3,500,000 common share purchase warrants (the "Warrants"). Each Warrant will be exercisable for one common share of the Company for a period of three years from the date hereof, at exercise prices of: (i) CDN$0.65 per common share with respect to one-third of the Warrants; (ii) CDN$0.75 per common share with respect to one-third of the Warrants, and (iii) CDN$0.85 per common share with respect to one-third of the Warrants. One insider of the Company is being issued 670,500 Warrants (so as to maintain its pro rata ownership percentage) and the issuance of Warrants to such insider will not materially affect control of the Company.