Examples of Issuer Warrants in a sentence
Each Issuer may issue Warrant Linked Notes where the amount payable on redemption is determined by reference to the changes in the value of warrants issued by the Warrant Issuer (Warrants).
The BCI Shares and BCI Warrants issued upon conversion of the Brokered Subscription Receipts were immediately exchanged, without additional consideration or action, for SVS and warrants of the Company ("Resulting Issuer Shares" and "Resulting Issuer Warrants" respectively), on Closing pursuant to the terms of the Definitive Agreement.
As such, the Company has allocated the entire proceeds of $3,962,800 to the Resulting Issuer shares, with no proceeds allocated to the Resulting Issuer Warrants or BCI Broker Warrants.
After the payment of various commissions and expenses related to the brokered private placement, Bhang Canada was left with net proceeds of CAD$5,201,968 ($3,962,800), which represents the consideration the Company received as consideration for the issuance of the Resulting Issuer Shares and Resulting Issuer Warrants and BCI Broker Warrants and the Company has used the residual method to allocate the proceeds.
There are no securities of the Issuer outstanding, other than the Issuer Shares and Issuer Warrants, which have the right to vote generally, or are convertible into or exchangeable for securities having the right to vote generally (as applicable), with the holders of Issuer Shares on any matter.
It is anticipated that the Merger will result in Westbay issuing an aggregate of 39,558,733 Resulting Issuer Shares and 2,000,000 Resulting Issuer Warrants to the ChargaCard Shareholders.
If the Warrant Triggering Threshold is satisfied, the Replacements Warrants may be exercised to acquire Resulting Issuer Shares from that date until the expiration of the Resulting Issuer Warrants on the date that is 18 months from the CSE Listing.
Notwithstanding the foregoing and for avoidance of doubt, the issuance of Resulting Issuer Warrants in connection with the Business Combination, as more particularly set out in Section 2.1(2) of this Indenture, shall not require a supplemental indenture to be entered into by the Resulting Issuer, the Resulting Issuer shall be deemed to assume and be bound by all of the obligations of the Corporation hereunder and the Resulting Issuer Warrants shall continue to be governed under the terms of this Indenture.
The Issuer Shares and Issuer Warrants are being placed in escrow to ensure compliance with certain obligations under Sections 6 and 7 below (all of the foregoing being collectively referred to as the "Obligations").
The exercise of the Resulting Issuer Warrants is conditional upon satisfaction of the Warrant Triggering Threshold within the 12 months following the CSE Listing.