RE:Warrants Kjs4381,
"July 17th is the first day that the warrants are actually able to be exercised at .75."
Correct. "The acceleration clause has nothing to fo with the 17th. The acceleration clause only determines when the warrants must be exercised by."
The warrant repricing starting point is July 17th. The acceleration clause does not determine when the warrants must be exercised by, the warrant expiry date was determined from the onset of the private placement, funding, etc.
Those Warrants would also be amended to provide that if at any time before their expiry date, the closing price of the Common Shares on the Toronto Stock Exchange (“TSX”) is greater than .9375 (such amount being 125% of .75) over any 5 consecutive trading days, the Company will be entitled, within 15 days of the occurrence of such event, to accelerate the expiry date of the Warrants to the date that is 30 days following the date that notice of such acceleration is provided.
Good luck to All!
kjs4381 wrote: July 17th is the first day that the warrants are actually able to be exercised at .75
The acceleration clause has nothing to fo with the 17th. The acceleration clause only determines when the warrants must be exercised by.