Bingo! Very strategic to do a deal with a partner like ICL who has a lot of skin in the game
Each Unit issued pursuant to the Offering consists of a common share of the Company (a "Common Share"), one and one half Series A Common Share purchase warrants (the "Series A Warrants") and one half of one Series B Common Share purchase warrant (the "Series B Warrants", and collectively with the Series A Warrants, the "Warrants"). Each whole Warrant will be exercisable for one Common Share for a period of 36 months from issuance of the Warrant. Each whole Series A Warrant will be exercisable for a price of $0.54 per Common Share, and each whole Series B Warrant will be exercisable for a price of $0.60 per Common Share.
ICL has agreed to purchase the entire production of the Project up to 1Mtpa with a take-or-pay commitment of ICL on a minimum of 80% of output from the Project.
And I don't think Liberty is going to sit on their thumbs after paying .80 per share in the past:
In addition, the Company may issue Units to Liberty Metals and Mining Holdings, LLC and/or IFC, in such amount as is required to be issued upon due exercise of their respective pre-emptive rights with respect to the Second Tranche.
