Tangelo Games Corp. IPRSF

warrants repriced

[willis888]

Maybe this is part of the drop in price. Imperus Technologies 20 million warrants repriced 2015-11-26 13:45 ET - Miscellaneous The TSX Venture Exchange has consented to a reduction in the exercise price of the following warrants. Number of warrants: 20 million Expiry date of warrants: Jan. 30, 2018 Forced exercise provision: If the closing price for the company's shares is 25 cents or greater for a period of 10 consecutive trading days, then the warrantholders will have 30 days to exercise their warrants; otherwise, the warrants will expire on the 31st day. Original exercise price of warrants: 38.5 cents New exercise price of warrants: 19.5 cents until Jan. 30, 2018 These warrants were issued pursuant to a $39-million (U.S.) secured term loan, which was accepted for filing by the exchange effective Feb. 6, 2015.

[lscfa]

That information was in the Nov 17 NR so it should come as no surprise. Those warrants are held by the lenders. Of interest is the fact that the loans can be prepaid after certain time periods with no penalties. An accelerated expiry date on the warrants could provide funds to repay the loans in part. Although the reduced strike price will generate less funds a reduction in 12% money outstanding

[lscfa]

I wonder if this still applies. Feb 2 NR says: In addition, as further consideration for the Term Loan, pursuant to the Credit Agreement, the Company issued to the Lenders an aggregate of 20,000,000 non-transferrable common share purchase warrants (the “Lender Warrants”). Each Lender Warrant entitles the holder to subscribe for one common share of the Company at $0.385 per share for 36

[Champ87]

Why would they do that? To get more financing?

[GeraldH]

I think they are doing that because the company is in trouble and most likely going under. Does anybody know what price the warrants were issued at?

[lscfa]

Geraldh = jerrystackhouse = lying idiot basher

[GeraldH]

you are either a) defending your lousy excruciating loss in anticipation that some moron will buy into it to try an increase a gain for your to get some money and dignity back or b) you are dumping your mid-teen purchase price for hopes of a run either way, jesus still loves you 

[lscfa]

You are a frigging imbecile. Lenders do not loan out $28 million US in new money to companies that are in trouble or going under. What a scumbag geraldh.

[GeraldH]

This post has been removed in accordance with Community Policy