"Each Unit will be comprised of one common share (“Common Shares”) and one common share purchase warrant (“Warrants”). Each Warrant shall be exercisable for a period of 36 months following the Closing Date at an exercise price of $0.75 per share."
The Daily IKN email digest, get all daily posts sent to you next day (& no ads)
Back in this post dated March 4th, we noted that Bobby Genovese's latest three card trick vehicle Jemi Fibre (JFI.v) was trying to raise $13m in a bought deal equity financing. Back then, if you paid the sum of sixty Canadian cents you'd receive a share and half a warrant of the company, with the warrant at a 90c floor.
Today the deal's been amended. Here's a paste of part of the term sheet:
Yup, those half warrants are now full warrants, that 90c strike is now at 75c. It would seem that the proposed issue hasn't been quite as popular as Bobby G thought it'd be, so
he it decides to crave popularity by sweetening the pot.
Mind you, I'm still amazed that GMP agreed on this being a bought deal.