And what ever happened to these warrants? Where are they registered? Were they ever given out?
USEI Declares Warrant Dividend on Its Common Stock as Part of Its Cannabis Operations and Future
Press Release | 01/02/2018
SANTA CLARITA, CA, Jan. 02, 2018 (GLOBE NEWSWIRE) -- USEI CANNABIS INITIATIVES CORP, a wholly owned subsidiary of U.S. ENERGY INITIATIVES CORPORATION, INC. (OTC PINK: USEI) a California based company, poised to capitalize on California’s legal cannabis industry focusing on the manufacturing and extraction of oil from cannabis is pleased to announce today that its Board of Directors has declared two (2) dividends in the form of warrants to purchase shares of the Company's common stock; a 1 for 10 or a 10% warrant to shareholders of record on the record date.
The warrants will be issued on pay-date of February 26, 2018 to shareholders of record as of February 16, 2018. Each shareholder of the Company's common stock will receive one warrant for every ten shares owned (10% of their holdings) as of the record date (with the number of warrants rounded up to the nearest whole number). The first warrant will entitle the holder to purchase 10% of their holdings of the Company's common stock equal to the exercise price per share price on March 30, 2018. The second warrant will entitle the holder to purchase 10% of their holdings of the Company's common stock at an exercise price share price on March 30, 2018 plus a 50% premium to that same price (For example .010 +.005 =.015). Combined these warrants represent a 20% warrant to the shareholder. (For example, if a shareholder has 1 million shares these warrants allow the shareholder of record to acquire an additional 200,000 shares at these prices). These warrants will be for a 3-year term from the date of issue, non-transferable, with the restricted shares being issued upon exercise. Funds raised because of this warrant will fund the company's likelihood of becoming a reporting issuer with the Securities and Exchange Commission, or SEC and future growth of the company’s business model. Further details of this warrant will be disclosed in a future press release.
No, sorry, they were never mentioned again.
You can lead a horse to water. But you can't make him get down on one knee and do an Al Jolson impression!
