Thursday, April 28, 2016 10:21:30 AM
"""In connection with our registered direct offering in December 2015, we issued a warrant exercisable to purchase up to 1,500,000 common shares that contains certain price protection provisions. If we, at any time while these warrants are outstanding, effect certain variable rate transactions and the issue price, conversion price or exercise price per share applicable thereto is less than the exercise price then in effect for the warrants, then the exercise price of the warrants will be reduced to equal such price. Further, if as of the 180 day anniversary from November 30, 2015, the quotient of (x) the sum of the volume weighted average price of our common shares for each trading day during the five consecutive trading days ending and including the trading day immediately preceding such date, divided by (y) five is less than the current exercise price of $2.50 per common share, the exercise price of the warrants will be adjusted to such price. The triggering of these price protection provisions or the potential adjustment to the exercise price of this warrant, together with its exercise for the purchase of 1,500,000 common shares, could cause the market price of our common shares to decline or become highly volatile."""
Translation: in just over a month Anson is going to have their warrants repriced to the market price.
Hooo Boy!
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