Another word. Overdue. 5 years overdue. After this most outrageous shareholder shafting I've seen in 40 + years of investing . How many millions of freebies and options have even firehosed into the trough already and they need millions more for finally understanding the consequences of that deal ? Better hope the next step is a complete 100% clearing of the decks and that the new crew is not the same. Or worse. GLTA
If the Company fulfills the foregoing obligations, and delivers to Spectrum the Exercise Notice within the Exercise Period, the Company shall forthwith: (a) issue to the shareholders of Spectrum (the "Vendors") on a pro rata basis, such number of common shares of the Company equal to 49% of the aggregate of the following: (i) the issued and outstanding common shares of the Company at such time; plus (ii) the common shares of the Company to be issued to the Vendors; and (b) pay to the Vendors on a pro rata basis, a cash payment in the aggregate of $100,000.