From Financing Activities
In 2004, the Company completed an equity financing for gross proceeds of $61,021,600 (CDN$74,555,000), comprised
of 24,050,000 special warrants, including a partial exercise of the underwriters over-allotment option, at a price of CDN$3.10
per special warrant for net proceeds of $58,275,600 (CDN$71,200,000). Each unit consisted of one common share and
one-half of one common share purchase warrant, which was detachable from the common shares. Each whole warrant entitles
the holder to purchase one common share at a price of CDN$5.00 on or before September 12, 2008.
So - one warrant circa $.25 for C$5 strike in 2008? |
