.from  February 24, 2017

"In addition, the Board has granted 683,350 restricted stock units convertible into common shares one year from the date of grant.

The options and restricted stock units were granted pursuant to Noront’s stock option plan and share awards plan respectively. The issuance of options and restricted stock units are subject to all applicable regulatory and exchange approvals."

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How lucky for the folks at Noront that recieved these restricted stock units,  that the current share price is so low ..(only 35 cents) when these restricted shares  are vested tomorrow.

Whoever got these restricted shares has to pay tax on the market value based on the day they are vested (tomorrow)

so, tax based on an income of .35x 683,350= $239,172...

It's "lucky" the share price managed to stay low on the day these shares became vested....less tax.

If the current share price today was  $3.00..the income taxed would be $3x 683,350= $2,050,050...ouch.

Now the shares will become regular common shares since they are vested and the taxes forward will be taxed as capital gains as long as they are held for one year, and the tax can be deferred and offset since the tax going forward is owed only when the common shares are sold.

It's "lucky" the "project description" for the roads was not released  prior to Feb. 24 for the holders of these restricted stock units