Investment and Issuance Dates. Subject to the terms and conditions set forth in this Subscription Agreement, the Investor hereby agrees to purchase from the Corporation, and the Corporation hereby agrees to sell and issue to the Investor on the applicable Closing Date, the Debentures and accompanying Warrants as follows: Facility / Closings Principal Amount of Debentures Commitment Warrants Facility Warrants Issuance Date First Closing $850,000 Warrants to acquire such number of Common Shares as is equal to $1,020,000 (being 20% of the Total Commitment) divided by the Commitment Warrant Exercise Price, rounded down to the nearest whole Common Share Warrants to acquire such number of Common Shares as is equal to $170,000 (being 20% of the aggregate principal amount of the Debentures issued at the First Closing) divided by the Facility Warrant Exercise Price, rounded down to the nearest whole Common Share Two (2) trading days following the date upon which notice is given pursuant to Section 3.1(c) (the First Closing Date) Second Closing $250,000 N/A Warrants to acquire such number of Common Shares as is equal to $50,000 (being 20% of the aggregate principal amount of the Debentures issued at the Second Closing) divided by the Facility Warrant Exercise Price, rounded down to the nearest whole Common Share Five (5) trading days following the date upon which notice is given pursuant to Section 3.2(b), subject to the elapsing of the Cool Down Period (the Second Closing Date) Third Closing $250,000 N/A Warrants to acquire such number of Common Shares as is equal to $50,000 (being 20% of the aggregate principal amount of the Debentures issued at the Third Closing) divided by the Facility Warrant Exercise Price, rounded down to the nearest whole Common Share Five (5) trading days following the date upon which notice is given pursuant to Section 3.2(b), subject to the elapsing of the Cool Down Period (the Third Closing Date) Fourth Closing $250,000 N/A Warrants to acquire such number of Common Shares as is equal to $50,000 (being 20% of the aggregate principal amount of the Debentures issued at the Fourth Closing) divided by the Facility Warrant Exercise Price, rounded down to the nearest whole Common Share Five (5) trading days following the date upon which notice is given pursuant to Section 3.2(b), subject to the elapsing of the Cool Down Period (the Fourth Closing Date) Fifth Closing $250,000 N/A Warrants to acquire such number of Common Shares as is equal to $50,000 (being 20% of the aggrega...
