Exro Technologies Inc T.EXRO

RE:RE:RE:RE:RE:RE:RE:RE:Anyone buying EXRO-WT? Up 70.45% today.

[Pandora]

tamaracktop wrote:

These are the warrants I was referring to in my explanation.

 

CALGARY, AB, Sept. 20, 2022 /CNW/ - Exro Technologies Inc. (TSX: EXRO) (OTCQB: EXROF) (the "Company" or "Exro"), a leading clean technology company that has developed new generation power control electronics that expand the capabilities of electric motors and batteries and bridge the cost-performance gap to accelerate adoption of a circular electrified economy, announced today that it has closed its previously announced non-brokered private placement (the "Offering"). Pursuant to the Offering, Exro sold 1,403,756 units ("Units") at a price of $1.05 per Unit for aggregate gross proceeds of $1,473,945. Each Unit consists of one common share of the Company (each, a "Common Share") and one share purchase warrant of the Company (each, a "Warrant") entitling the holder thereof to acquire, subject to adjustment in certain circumstances, an additional Common Share at an exercise price of $1.36 for a period of 48 months following the closing of the Offering (the "Closing Date"), provided that if at any time after the Closing Date the closing price of the Common Shares on the Toronto Stock Exchange (the "TSX"), or such other stock exchange where the majority of the trading volume occurs, exceeds or is equal to $2.72 per Common Share (on a volume-weighted adjusted basis) for a period of twenty (20) consecutive trading days, the Company may, at its sole discretion, elect to accelerate the expiry date of the Warrants to the date that is 30 calendar days after the Company issues a news release announcing that it has exercised such acceleration right.
CALGARY, AB, Sept. 20, 2022 /CNW/ - Exro Technologies Inc. (TSX: EXRO) (OTCQB: EXROF) (the "Company" or "Exro"), a leading clean technology company that has developed new generation power control electronics that expand the capabilities of electric motors and batteries and bridge the cost-performance gap to accelerate adoption of a circular electrified economy, announced today that it has closed its previously announced non-brokered private placement (the "Offering"). Pursuant to the Offering, Exro sold 1,403,756 units ("Units") at a price of $1.05 per Unit for aggregate gross proceeds of $1,473,945. Each Unit consists of one common share of the Company (each, a "Common Share") and one share purchase warrant of the Company (each, a "Warrant") entitling the holder thereof to acquire, subject to adjustment in certain circumstances, an additional Common Share at an exercise price of $1.36 for a period of 48 months following the closing of the Offering (the "Closing Date"), provided that if at any time after the Closing Date the closing price of the Common Shares on the Toronto Stock Exchange (the "TSX"), or such other stock exchange where the majority of the trading volume occurs, exceeds or is equal to $2.72 per Common Share (on a volume-weighted adjusted basis) for a period of twenty (20) consecutive trading days, the Company may, at its sole discretion, elect to accelerate the expiry date of the Warrants to the date that is 30 calendar days after the Company issues a news release announcing that it has exercised such acceleration right.

I don't profess to know anything about what I am talking about but I have to go all the way back to a June 23, 2020 news release to find wording of warrants being listed for trading purposes. At that time the listing was on the CSE. I do not see wording in any of the recent financing saying that the warrants were listed for trading. Does that make a difference? Does the Company not have to apply and state that the subject warrants will be listed for trading?

VANCOUVER, BC / ACCESSWIRE / June 23, 2020 / Exro Technologies Inc. (CSE:XRO) (the "Company" or "Exro") is pleased to announce that it has filed a preliminary short form prospectus (the "Prospectus") with respect to an offering (the "Offering") of units ("Units") at a price of $0.70 per Unit for gross proceeds of up to Cdn $5,000,000. Each Unit will consist of one common share of the Company (a "Unit Share") and one-half of a common share purchase warrant (each whole common share purchase warrant, a "Warrant"). Each Warrant will entitle the holder to purchase one common share of the Company (a "Warrant Share") at a price of $0.90 per Warrant Share for a period of 24 months following the closing of the Offering. The Warrants will be subject to an acceleration right (the "Warrant Acceleration Right") if on any 20 consecutive trading days, beginning on the date that is four months and one day following the closing date, the daily volume weighted average trading price of the Company's common shares on a recognized stock exchange is greater than $1.50 per common share. If the Company exercises its Warrant Acceleration Right, the new expiry date of the Warrants will be the 30th day following the notice of such exercise.

The Offering is being conducted on a commercially reasonable efforts basis by Gravitas Securities Inc. (the "Agent") in the provinces of British Columbia, Alberta, Saskatchewan, Manitoba and Ontario (the "Offering Jurisdictions").

The Company has applied to list the Unit Shares and the Warrant Shares on the Canadian Securities Exchange (the "CSE"). There is no established trading market for the Warrants and the Company does not expect a market to develop. A copy of the Prospectus is available under the Company's profile at www.sedar.com or by request to Gravitas Securities Inc. at [e-mail].