80 per share, will be exercisable six months from the date of issuance, and will expire five years from the initial exercise date
The warrants will first become exercisable on the first trading day after the 31st day following the unit programme termination date and continue to be exercisable for one year after the exercise date
at a per share exercise price of USD5.
60 for a period of 21 consecutive trading days, then, at the Companys sole discretion and upon the Company sending the holder written notice of such Accelerated Exercise Date
(the Notice) and issuing a news release announcing such Accelerated Exercise Date
(the News Release), the day that is 21 days following the later of: (i) the date on which such Notice is sent to the holder; and (ii) the date on which the News Release is issued.
The company said the first exercise date
is 18 August 2020.
The warrants will be exercisable six months following the date of issuance, will expire on the fifth anniversary of the initial exercise date
and have an exercise price of USD1.
TSX-V: ISD) (OTC: ISDSF) has applied to the TSX Venture Exchange for approval to extend the exercise date
for the 9,566,094 outstanding warrants issued in November 2014 in conjunction with a private placement, the company said.
The compensation received by the employee will equal this difference, which equals the intrinsic value of the options on the exercise date
There is an option for an accelerated exercise date
, under which after one year the company has the right to send the holders of warrants notice for the warrants to be exercised within 30 days in case the closing price of the company's shares is CAD0.
An employee retains an investment in the shares underlying the options at least equal to the gain from the transaction for a holding period of five years at the exercise date
The details of the exploration schedule, expected reserves, and details of the option such as exercise date
and price have not been revealed.
The spread between the exercise price and the stock price on the exercise date
is taxed as additional compensation, subject to the taxpayer's ordinary income tax rate.
These instruments would have a fixed term, an exercise price equal to the price of common stock, and an exercise date
well into the future.