Warrant acceleration
posted on
Jan 17, 2012 04:50PM
9.260.000 Warrants @ 1.70 = $ 15.75M in the kitty ///
Each Warrant entitles the holder to purchase one additional common share of the Company at a price of C$1.70 until April 21, 2013. If the volume-weighted average share price of the common shares on the TSX Venture Exchange (the "TSX-V") is greater than C$2.70 per common share for a period of 20 consecutive trading days at any time following the issuance of the Warrants, the Company may accelerate the expiry date of the Warrants by issuing a press release announcing the reduced Warrant term, whereupon the Warrants will expire on the 30th calendar day after the date of such press release.