Question to anyone please?? Can anyone please explain this more in detail to me? Does this even apply to the common shareholder such as myself or not. Thank you to all.
In addition, further to its news releases dated December 7, 2016 and May 15, 2017, Bearing confirms that it has issued an aggregate of 1,685,568 units of Bearing (the “Settlement Units”) in settlement of the principal amount of US$525,000 (plus accrued interest) in outstanding Li3 convertible notes (the “Li3 Convertible Notes”).Each Settlement Unit consists of one common share and one half of one share purchase warrant (each whole warrant, a “Warrant”).657,558 of the Warrants are exercisable for 12 months at an exercise price of $0.80. 185,228 of the Warrants are exercisable for 18 months at an exercise price of $0.88.All of the securities issued in settlement of the Li3 Convertible Notes are subject to a statutory hold period of four months and one day. The Settlement Units will be held in escrow pending completion of the proposed transaction with Li3.In the event the proposed transaction does not complete, the Settlement Units will be cancelled.
