Golden Hemlock(GHE) Message Board

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Gold/Mining/Energy : Golden Hemlock(GHE)

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To: Hugh M. who wrote (700)	2/3/1998 11:19:00 PM
From: Robert Dydo	Read Replies (1) of 909

I disagree as this fragment states: "The VSE has imposed the condition that, in the case where warrant holders elect to take advantage of the reduced exercise price, and should the company's shares trade on the VSE for ten consecutive trading days at an average price of $0.25 per share or greater, the warrant holders must exercise their warrants within 30 calendar days or the warrant will expire at the end of those 30 days." The question is not about financial gain or loss but why and for who's interest? It would seem like it is benefitting company as long as 10 days will hold. It does mean that would happen now or even in six months if one day will fall below the average 0.25 in 10 day period. In such a case the warrants will not be exercised and money will be gone or they will be exercised at the original price. I think this clause is preventing repricing of the warrants in case price would fall to lower level. If this happens company can't change the application but to make it fair there is the chance of 10 days given by VSE. This makes only sense. Robert

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