Bullboard - Stock Discussion Forum Lattice Biologics Ltd V.LBL.H

Alternate Symbol(s): LBLTF

Healthcare Biotechnology

Lattice Biologics Ltd. is engaged in the business of developing, manufacturing and marketing biologics products to domestic and international markets. The Company’s products are used in a variety of applications including enhancing bone regeneration in dental, spine, and general orthopedic indications. Its acellular dermal matrix is used for dental flaps which is used to close defects post... see more

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TSXV:LBL.H - Post Discussion

Lattice Biologics Ltd > 18 million shares and 500,000 warrants at 10 cents

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Post by cleareye on Jul 23, 2020 2:37pm

18 million shares and 500,000 warrants at 10 cents

Regarding those 18 million shares, and additional 500,000 warrants priced at 10 cents.

I was left a little "speechless" this morning regarding this. Some assumed that this was a further "payoff" to Guy Cook. But, these are explained in the Information Circular - below.

From the Information Circular for the Annual Meeting - Filed by SEDAR Jun.22.2020

4. LITIGATION SETTLEMENT In January 2019, the Company was named in a statement of claim filed by Cheryl Farmer, the former Chief Financial Officer of the Company, for wrongful dismissal in the amount of U.S.$2.5 million. The Company and the plaintiff have entered into a settlement agreement that includes a severance payment of U.S.$100,000 to be paid over 9 months, 18,000,000 million Common Shares of the Company, and 500,000 warrants to purchase Common Shares (the “Warrants”) expiring August 30, 2020. The Warrants will be exercisable for a price of CAD $0.10 per common share. In accordance with the requirements of the TSX Venture Exchange (“TSXV”), the issuance of the 18,000,000 common shares and 500,000 Warrants is subject to receipt of disinterested shareholder approval (the “Litigation Settlement”)

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Comment by Smiles62 on Jul 23, 2020 4:39pm

You know he will demand that they reprice it at 0.06 or close to, right? In other words, the litigation is on going, plus it's very obvious that he was wrongfully dismissed!!!! This guy holds precious info about/against the company.

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Comment by cleareye on Jul 23, 2020 4:55pm

I think it's over.

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Comment by schrodingerscat on Jul 23, 2020 5:05pm

Cheryl is a she

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Comment by Smiles62 on Jul 23, 2020 5:50pm

Sorry, my mistake. She must be under a gag order, don't even try to ask anything regarding the company! I did find her in FB.

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Comment by MaterialWorld on Jul 23, 2020 7:10pm

Guy is no fool. Once all this legal sh!t get's resolved with this very bad break up that was once a fantastic union, this thing will fly. Guy will be looking into the rear view mirror very soon, and so will we. Hold tight folks.......Best investment ever..............MW

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Comment by cleareye on Jul 23, 2020 7:27pm

I agree MW, I am sure that Guy Cook was wise to solve this commercially rather than through extended litigation. - whatever the issue. He can now concentrate on what matters. I didn't understand what was going on behind the scenes, but now it makes better sense. Time to move on. cleareye.

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Comment by MaterialWorld on Jul 23, 2020 7:53pm

Guy is no fool.............best wishes to him, and us. Things will work out.....MW

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Comment by Smiles62 on Jul 24, 2020 7:13am

I'm not basing your "God" Guy but in my mind (I could be wrong), why did he negotiate such a fatal deal with her, I'm just wandering who is the smarter of the 2? Why could he not negotiate at half the number of shares? Then he would have fought for his sh. In other words 9M instead of 18M, the amount to her would have been the same $1M, but the new overhang for us would ...more

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