Terms of the Rights Offering. (a) Pursuant to the Rights Offering, the Company will distribute to the holders of record on the Record Date of the Company Common Stock, pro rata, Rights to purchase all of the Offshore Shares. The Rights will be transferable by the holders thereof and will be listed or admitted to trading on NASDAQ.
Terms of the Rights Offering. 2.1 Pursuant to the Offering, the Corporation will distribute, on a pro rata basis at no charge, Rights to each shareholder resident in the Eligible Jurisdictions as of the Record Date on the basis of one (1) Right for each Common Share held. Each such Right will be transferable and listed for trading on the Exchange. Five (5) Rights will entitle the holder to purchase, at the election of such holder, one (1) Unit at a price of $0.26 per Unit (the “Basic Subscription Privilege”). The Offering will remain open for more than 21 calendar days following the date on which the Notice is sent to shareholders. The Rights will expire at 2:00 p.m. (Vancouver time) on December 28, 2017, or such other date as may be agreed upon by the Soliciting Dealer and the Corporation (the “Rights Expiry Date”).
Terms of the Rights Offering. (a) Pursuant to the Rights Offering, the Company will distribute to the holders of record on the Record Date of the Company Common Stock, pro rata, Rights to purchase all of the Offshore Shares. The Rights will be transferable by the holders thereof and will be listed or admitted to trading on NASDAQ. (b) The subscription price payable for the Offshore Shares by holders of Rights shall be $3.25 per Offshore Share. B-4 5 (c) Subject to paragraph (e) below, each Right will expire on the General Expiration Date, unless theretofore exercised by the holder thereof by completion of the subscription form mailed to holders of Rights, accompanied by payment of the aggregate subscription price for the Offshore Shares covered thereby. (d) At Offshore's election, the subscription form will include an over-subscription option which will permit each holder who exercises in full the Rights distributed to such holder to elect to subscribe, pro rata with all holders of Rights who exercise their over-subscription option (each, a "Subscribing Holder"), for any Offshore Shares covered by unexercised Rights ("Unsubscribed Shares"). As promptly as practicable following the Initial Subscription Period, the Company shall notify each Subscribing Holder of the number of Unsubscribed Shares to be distributed to such holder and the aggregate subscription price therefor, and each Subscribing Holder shall have until the General Expiration Date to deliver to the Company payment of the subscription price for the Unsubscribed Shares to be delivered to such holder. (e) Immediately following the General Expiration Date, any Rights to acquire Unsubscribed Shares which have not been subscribed for as provided in paragraph (d) ("Remaining Shares") will be transferred to Tathxx Brothers and Tathxx Xxxthers shall be obligated to exercise such number of Rights, if any, as is required by the Standby Agreement dated the date hereof among Parent, the Company, Offshore, Tathxx Xxxthers and Thomxx X. Xxxxxx (xxe "Standby Agreement"). (f)
Terms of the Rights Offering. Kolibri has determined to proceed with the Rights Offering on the following terms:
