Issue of Warrants. Section 2.1 Creation and Issue of Warrants 6 Section 2.2 Terms of Warrants. 7 Section 2.3 Warrantholder not a Shareholder. 7 Section 2.4 Warrants to Rank Pari Passu. 7 Section 2.5 Form of Warrants, Certificated Warrants. 7 Section 2.6 Book Entry Only Warrants 8 Section 2.7 Warrant Certificate. 10 Section 2.8 Legends. 11 Section 2.9 Register of Warrants. 14 Section 2.10 Issue in Substitution for Warrant Certificates Lost, etc. 15 Section 2.11 Exchange of Warrant Certificates 15 Section 2.12 Transfer and Ownership of Warrants. 16 Section 2.13 Cancellation of Surrendered Warrants. 17
Issue of Warrants. Section 2.1 Creation and Issue of Warrants. 7
Issue of Warrants. Creation and Issue of Warrants.
Issue of Warrants. That number of Warrants set out on the Warrant Certificate are hereby created and authorized to be issued.
Issue of Warrants. Subject to adjustment in accordance with the provisions hereof, the Company creates and authorizes the issuance of up to 4,792,625 Warrants entitling the registered holders thereof to acquire an aggregate of up to 4,792,625 Warrant Shares, all of which are hereby created and authorized to be issued hereunder at the Exercise Price upon the terms and conditions as set forth herein. Uncertificated Warrants shall be Authenticated by the Warrant Agent and deposited in CDS and Warrant Certificates evidencing the Warrants shall be executed by the Company, certified by or on behalf of the Warrant Agent and delivered by the Warrant Agent in accordance with a written direction of the Company, all in accordance with sections 2.3 and 2.
Issue of Warrants. Up to a total of 23,485,359 Warrants entitling the registered holders thereof to acquire an aggregate of 23,485,359 Common Shares are hereby created and authorized to be issued hereunder at the Exercise Price upon the terms and conditions herein set forth and shall be executed by the Company and certified by or on behalf of the Warrant Agent upon the written order of the Company and delivered by the Company in accordance with sections 2.3 and 2.4.”
Issue of Warrants. 7
2.1 Creation and Issue of Warrants. 7 2.2 Terms of Warrants. 7 2.3 Warrantholder not a Shareholder. 7
Issue of Warrants. (1) A maximum of 11,500,000 Warrants are hereby created and authorized to be issued hereunder entitling the registered holders thereof to acquire an aggregate of 11,500,000 Warrant Shares (subject to adjustment in accordance with section 3.13) at the Exercise Price upon the terms and conditions herein set forth. Uncertificated Warrants shall be Authenticated by the Warrant Agent and deposited in the name of CDS and Warrant Certificates evidencing the Warrants, if any, shall be executed by the Company, certified by or on behalf of the Warrant Agent and delivered by the Warrant Agent to the Company, as applicable, in accordance with a written direction of the Company, all in accordance with sections 3.3 and 3.
Issue of Warrants. 5.1 The Company shall issue and deliver, concurrently with the closing of the Initial Direct Placement, to the Investor, Warrants in accordance with this clause 5 “Issue of Warrants”, in the form set out in Exhibit F, that are exercisable within five (5) years of the date hereof to purchase up to (at the option of the Investor) 2,857,000 common shares. The Warrants shall have an exercise price, subject to adjustments as set out in Schedule F, of CDN$2.50.
5.2 For greater certainty, in respect of Warrants not issued on the date of this Agreement, delivery of a Placement Notice and an Acceptance Notice under clause 2.1 and the closing of a subscription under clause 3.3 shall be deemed to be a subscription for Common Shares and Warrants for such period as Warrants are issuable pursuant to this clause 5. The foregoing is without prejudice to the rights of the Investor under clause 5.4 in relation to the Warrants Payment in circumstances where the Warrants Payment becomes payable.
5.3 On the first anniversary of the date of this Agreement, if the Market Price of the Common Shares is less than 90 per cent of the then-current exercise price of the Warrants, the exercise price of any Warrants issued shall adjust to 105 per cent of the Market Price of the Common Shares at that time, subject to the approval of the Exchange.
5.4 Regardless of whether there is any subscription for or purchase of Common Shares under this Agreement, if the Company does not issue all of the Warrants by the date that is 18 months from the date hereof (the “Warrant Delivery Date”) for any reason whatsoever, including failure to obtain approval of the Exchange, the Company shall indemnify and pay the Investor a cash payment equal to the higher of 8 per cent of the exercise value (the exercise price of the Warrant multiplied by the number of Warrants that have not been issued of any Warrants not yet issued as calculated on the Warrant Delivery Date (the “Warrants Payment”).
5.5 The Share Lenders hereby agree that if any Underlying Common Shares are subject to any restriction or hold period, they shall lend such number of Common Shares as is equal to the relevant number of Underlying Common Shares to the holder on the terms set out in Schedule F.
5.6 The Warrants Payment shall be payable in cash by the Company on the first Business Day after the 18-month period referenced in clause 5.4 has elapsed (the “Warrant Payment Date”) by wire transfer (for same day value on the first Business Day afte...
Issue of Warrants. 6
2.1 Creation and Issue of Warrants. 6
2.2 Terms of Warrants 6 2.3 Warrantholder not a Shareholder 7 2.4 Warrants to Rank Pari Passu 7 2.5 Form of Warrants. 7 2.6 Book Entry Only Warrants. 7 2.7 Warrant Certificate 9 2.8 Legends 10 2.9 Register of Warrants 11
