Common use of Issue of Rights, Options or Warrants Clause in Contracts

Issue of Rights, Options or Warrants. If at any time prior to the Time of Expiry Date, the Company shall fix a record date for the distribution to the all or substantially all of the holders of its outstanding Common Shares of rights, options or warrants entitling them for a period expiring not more than 45 days after the such record date (such period being the “Rights Period”), to subscribe for or purchase Common Shares or securities exchangeable for or convertible into Common Shares at a price per share to the holder (or in the case of securities exchangeable for or convertible into Common Shares, at an exchange or conversion price per share) of less than 95% of the Current Market Price on such record date (any of such events being called a “Rights Offering”), then the Exchange Number shall be adjusted effective immediately after such record date for the Rights Offering by multiplying the Exchange Number in effect on such record date by a fraction: (i) the numerator of which shall be the total number of Common Shares outstanding on the record date for the Rights Offering, plus the total number of additional Common Shares so offered for subscription or purchase (or into or which the convertible or exchangeable securities so offered are convertible or exchangeable); and (ii) the denominator of which shall be the aggregate of the number of Common Shares outstanding on such record date plus the number of Common Shares equal to the number arrived at by dividing the aggregate subscription or purchase price of the total number of additional Common Shares so offered for subscription or purchase (or the aggregate conversion or exchange price of the convertible or exchangeable securities so offered) by the Current Market Price on such record date. The resulting product, adjusted to the nearest 1/100th, shall thereafter be the Exchange Number until further adjusted as provided in this Article 4. Any Common Shares owned by or held for the account of the Company or any of its Subsidiaries or a partnership in which the Company is directly or indirectly a party to will be deemed not to be outstanding for the purpose of any computation. To the extent that any such rights, options or warrants are not so issued or any such rights, options or warrants are not exercised prior to the expiration thereof, the Exchange Number will then be readjusted to the Exchange Number which would then be in effect if such record date had not been fixed or to the Exchange Number which would then be in effect based upon the number of Common Shares (or securities convertible into or exchangeable for Common Shares) actually issued upon the exercise of such rights, options or warrants, as the case may be.

Issue of Rights, Options or Warrants. If at any time after the Effective Date but prior to the Time of Expiry Date, Date the Company Corporation shall fix a record date for the issue or distribution to the holders of all or substantially all of the holders of its outstanding Common Shares of rights, options or warrants entitling them for pursuant to which such holders are entitled, during a period expiring not more than 45 days after the such record date for such issue (such period being the “Rights Period”), to subscribe for or purchase Common Shares or securities exchangeable for or convertible into Common Shares at a price per share to the holder (or in the case of securities exchangeable for or convertible into Common Shares, at an exchange or conversion price per share) at the date of issue of such securities of less than 95% of the Current Market Price of the Common Shares on such record date (any of such events being called a “Rights Offering”), then the Exchange Number Exercise Price shall be adjusted effective immediately after such the record date for the such Rights Offering to the amount determined by multiplying the Exchange Number Exercise Price in effect on such record date by a fraction: (i) the numerator of which shall be the total aggregate of (A) the number of Common Shares outstanding on the record date for the Rights Offering, plus and (B) the total quotient determined by dividing (1) either (a) the product of the number of additional Common Shares so offered for subscription during the Rights Period pursuant to the Rights Offering and the price at which such Common Shares are offered, or, (b) the product of the exchange or purchase (or into or which conversion price of the convertible or exchangeable securities so offered are convertible and the number of Common Shares for or exchangeable)into which the securities offered pursuant to the Rights Offering may be exchanged or converted, as the case may be, by (2) the Current Market Price of the Common Shares as of the record date for the Rights Offering; and (ii) the denominator of which shall be the aggregate of the number of Common Shares outstanding on such record date plus and the number of Common Shares equal offered pursuant to the number arrived at by dividing Rights Offering (including in the aggregate subscription or purchase price case of the total number issue or distribution of additional securities exchangeable for or convertible into Common Shares so offered for subscription or purchase (or the aggregate conversion or exchange price of the convertible or exchangeable securities so offered) by the Current Market Price on such record date. The resulting product, adjusted to the nearest 1/100th, shall thereafter be the Exchange Number until further adjusted as provided in this Article 4. Any Common Shares owned by or held for the account of the Company or any of its Subsidiaries or a partnership in which the Company is directly or indirectly a party to will be deemed not to be outstanding for the purpose of any computation. To the extent that any such rights, options or warrants are not so issued or any such rights, options or warrants are not exercised prior to the expiration thereof, the Exchange Number will then be readjusted to the Exchange Number which would then be in effect if such record date had not been fixed or to the Exchange Number which would then be in effect based upon the number of Common Shares (for or into which such securities convertible into may be exchanged or exchangeable for Common Shares) actually issued upon the exercise of such rights, options or warrants, as the case may beconverted).

Issue of Rights, Options or Warrants. If at any time after the Effective Date but prior to the Time of Expiry Date, the Company Corporation shall fix a record date for the issue or distribution to the holders of all or substantially all of the holders of its outstanding Common Shares of rights, options or warrants entitling them for pursuant to which such holders are entitled, during a period expiring not more than 45 forty-five days after the such record date for such issue (such period being the “"Rights Period”"), to subscribe for or purchase Common Shares or securities exchangeable for or convertible into Common Shares at a price per share to the holder (or in the case of securities exchangeable for or convertible into Common Shares, at an exchange or conversion price per share) at the date of issue of such securities of less than 95% of the Current Market Price of the Common Shares on such record date (any of such events being called a “"Rights Offering”"), then the Exchange Number Exercise Price shall be adjusted effective immediately after such the record date for the such Rights Offering to the amount determined by multiplying the Exchange Number Exercise Price in effect on such record date by a fraction: (i) the numerator of which shall be the total aggregate of A. the number of Common Shares outstanding on the record date for the Rights Offering, plus the total number of additional Common Shares so offered for subscription or purchase (or into or which the convertible or exchangeable securities so offered are convertible or exchangeable); and B. the quotient determined by dividing I. either (iia) the denominator of which shall be the aggregate product of the number of Common Shares outstanding on offered during the Rights Period pursuant to the Rights Offering and the price at which such record date plus Common Shares are offered, or, (b) the product of the exchange or conversion price of the securities so offered and the number of Common Shares equal for or into which the securities offered pursuant to the number arrived at by dividing the aggregate subscription Rights Offering may be exchanged or purchase price of the total number of additional Common Shares so offered for subscription or purchase (or the aggregate conversion or exchange price of the convertible or exchangeable securities so offered) by the Current Market Price on such record date. The resulting product, adjusted to the nearest 1/100th, shall thereafter be the Exchange Number until further adjusted as provided in this Article 4. Any Common Shares owned by or held for the account of the Company or any of its Subsidiaries or a partnership in which the Company is directly or indirectly a party to will be deemed not to be outstanding for the purpose of any computation. To the extent that any such rights, options or warrants are not so issued or any such rights, options or warrants are not exercised prior to the expiration thereof, the Exchange Number will then be readjusted to the Exchange Number which would then be in effect if such record date had not been fixed or to the Exchange Number which would then be in effect based upon the number of Common Shares (or securities convertible into or exchangeable for Common Shares) actually issued upon the exercise of such rights, options or warrantsconverted, as the case may be., by

Issue of Rights, Options or Warrants. If at any time prior to the Time of Expiry Date, the Company shall fix a record date for the distribution issue rights, options, warrants or convertible or exchangeable securities to the all or substantially all of the holders of its outstanding Common Shares of rightsStock without any charge to such holders, options or warrants entitling them for a period expiring not more than 45 days after the such record date (such period being the “Rights Period”), to subscribe for or purchase shares of Common Shares or securities exchangeable for or convertible into Common Shares Stock at a price per share to which is lower at the holder (or in the case of securities exchangeable for or convertible into Common Shares, at an exchange or conversion price per share) of less than 95% of the Current Market Price on such record date (any of such events being called a “Rights Offering”), then the Exchange Number shall be adjusted effective immediately after such record date for the Rights Offering determination of stockholders entitled to receive such distribution than the then current Exercise Price, the number of shares of Common Stock for which this Warrant is exercisable immediately following such event shall be determined by multiplying the Exchange Number in effect on number of shares for which this Warrant is exercisable immediately prior to such record date event by a fraction: (i) , the numerator of which shall be the total number of shares of Common Shares Stock outstanding on the record date for the Rights Offeringof issuance of such rights, options, warrants or convertible or exchangeable securities plus the total number of additional shares of Common Shares so stock offered for subscription or purchase (in connection with such rights, options, warrants or into or which the convertible or exchangeable securities so offered are convertible or exchangeable); and (ii) and the denominator of which shall be the aggregate of the number of shares of Common Shares Stock outstanding on the date of issuance of such record date rights, options, warrants or convertible or exchangeable securities plus the number of Common Shares equal to the number arrived at by dividing shares which the aggregate subscription or purchase offering price of the total number of additional Common Shares shares so offered for subscription or would purchase (or at the aggregate conversion or exchange price of the convertible or exchangeable securities so offered) by the Current Market current Exercise Price on at such record date. The resulting product, adjusted to Such adjustments shall become effective on the nearest 1/100th, shall thereafter be the Exchange Number until further adjusted as provided in this Article 4. Any Common Shares owned by or held for the account date of the Company or any of its Subsidiaries or a partnership in which the Company is directly or indirectly a party to will be deemed not to be outstanding for the purpose of any computation. To the extent that any such rights, options or warrants are not so issued or any such rights, options or warrants are not exercised prior to the expiration thereof, the Exchange Number will then be readjusted to the Exchange Number which would then be in effect if such record date had not been fixed or to the Exchange Number which would then be in effect based upon the number of Common Shares (or securities convertible into or exchangeable for Common Shares) actually issued upon the exercise issuance of such rights, options or warrants. 7.3 Reorganization, Reclassification, Consolidation or Merger. If the Company shall (i) effect any reorganization or reclassification of its capital stock not covered by an adjustment under Section 7.1 or (ii) consolidate or merge with or into, or transfer all or substantially all of its properties and assets to, any other Person, in either case in a transaction in connection with which a Holder has not exercised this Warrant, then, upon any exercise of this Warrant subsequent to the consummation thereof, such Holder shall be entitled to receive, in lieu of the Common Stock issuable upon exercise immediately prior to such consummation, the highest amount of stock, other securities or property (including cash) to which such Holder would have been entitled upon such consummation if such Holder had exercised this Warrant immediately prior thereto, all subject to further adjustments thereafter as provided in this Section 7.3. In the case of a consolidation, merger, sale or transfer which includes an election as to the kind of consideration to be received by the holders, and the transfer is not the same for each share of Common Stock, then for the purposes of this Section the kind and amount of securities, cash and other property receivable upon such consolidation, merger, sale or transfer shall be deemed to be the kind and amount so receivable per share by a plurality of the holders. In the case of any consolidation of the Company with or merger of the Company into another entity or in the case of any sale or transfer to another entity of all or substantially all of the property of the Company, such successor or purchasing entity shall be required by contract to execute an agreement that the Holder shall have the right thereafter upon payment of the Exercise Price in effect immediately prior to such action to purchase upon exercise of each Warrant the kind and amount of securities, cash and property which the Holders would have owned or been entitled to receive after the happening of such consolidation, merger, sale or transfer had such Warrant been exercised immediately prior to such action. Upon the execution of such agreement, this Warrant shall be exercisable only for such securities, cash and property. The Company shall mail by first class mail, postage prepaid, to the Holder, notice of the execution of any such agreement. Such agreement shall provide for adjustments, which shall be as nearly equivalent as may bebe practicable to the adjustments provided for in this Section 7.3. The provisions of this Section 7.3 shall similarly apply to successive consolidations, mergers, sales or transfers.

Issue of Rights, Options or Warrants. If at any time prior to the Time of Expiry Date, the Company shall fix a record date for the distribution to the all or substantially all of the holders of its outstanding Common Shares of rights, options or warrants entitling them for a period expiring not more than 45 days after the such record date (such period being the “Rights Period”), to subscribe for or purchase Common Shares or securities exchangeable for or convertible into Common Shares at a price per share to the holder (or in the case of securities exchangeable for or convertible into Common Shares, at an exchange or conversion price per share) of less than 95% of the Current Market Price on such record date (any of such events being called a “Rights Offering”), then the Exchange Number shall be adjusted effective immediately after such record date for the Rights Offering by multiplying the Exchange Number in effect on such record date by a fraction: (i) the numerator of which shall be the total number of Common Shares outstanding on the record date for the Rights Offering, plus the total number of additional Common Shares so offered for subscription or purchase (or into or which the convertible or exchangeable securities so offered are convertible or exchangeable); and (ii) the denominator of which shall be the aggregate of the number of Common Shares outstanding on such record date plus the number of Common Shares equal to the number arrived at by dividing the aggregate subscription or purchase price of the total number of additional Common Shares so offered for subscription or purchase (or the aggregate conversion or exchange price of the convertible or exchangeable securities so offered) by the Current Market Price on such record date. The resulting product, adjusted to the nearest 1/100th, shall thereafter be the Exchange Number until further adjusted as provided in this Article 4. Any Common Shares owned by or held for the account of the Company or any of its Subsidiaries or a partnership in which the Company is directly or indirectly a party to will be deemed not to be outstanding for the purpose of any such computation. To the extent that any such rights, options or warrants are not so issued or any such rights, options or warrants are not exercised prior to the expiration thereof, the Exchange Number will then be readjusted to the Exchange Number which would then be in effect if such record date had not been fixed or to the Exchange Number which would then be in effect based upon the number of Common Shares (or securities convertible into or exchangeable for Common Shares) actually issued upon the exercise of such rights, options or warrants, as the case may be.