Terms of the warrants from the Sept financingNote the acceleration conditions..... hopefully this will happen:)))
Exro Technologies Inc. has closed its previously announced non-brokered private placement. Pursuant to the offering, Exro sold 1,403,756 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 and one share purchase warrant of the company, 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, provided that, if at any time after the closing date, the closing price of the common shares on the Toronto Stock Exchange, 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 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. The warrants are governed by the terms of a warrant indenture dated Sept. 20, 2022, between the company and Computershare Trust Company of Canada as warrant agent.