Examples of Resulting Issuer Warrants in a sentence
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.
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.
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.
Each Resulting Issuer Warrant entitles the Warrantholder to purchase one Resulting Issuer Share at a price of $0.10 per Resulting Issuer Warrant for a period of 18 months after the Listing Date, however, the exercise of the Resulting Issuer Warrants is conditional upon the satisfaction of the Warrant Triggering Threshold within the 12 months following the Listing Date.
If the Warrant Triggering Threshold is satisfied, the Resulting Issuer 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 Listing Date.