Under the common share
repurchase program, management is authorized to repurchase common shares
from time to time in the open market, as well as through privately negotiated transactions, block purchases and other means.
Upon full physical settlement of any component of a forward sale agreement, the Company will issue to the forward counterparty a number of common shares
and a company associated therewith, own and control 1,125,950 common shares
of Innova representing approximately 2.
The company expects that after the 5 years holding period, set to expire March 31, 2011, the majority shareholders will not exchange their preferred shares for common shares
since the preferred shares carry the same voting rights as common shares
Prior to the Amalgamation, Cannasat had 12,000,000 Common Shares
and 10,725,575 Class A Shares issued and outstanding.
Amalco") (iii) the holders of the Newco common shares
will receive one common share
of Amalco (the "Amalco Common Shares
") with a deemed value of $0.
an insider of the Corporation, which has purchased 4,044,118 common shares
totalling a placement of $1,375,000.
The number of common shares
of Icefloe issued and outstanding is currently 7,249,592 common shares
At present, the Corporation has 7,800,000 Common Shares
issued and outstanding and has granted options to acquire 780,000 Common Shares
to its directors and options to acquire 375,000 Common Shares
to the agent under its initial public offering.
57% of the total outstanding common shares
of the Company and SIPAR will remain the only entity with more than 10% ofGroupe Bikini Village's outstanding capital.
Wingate also received an Agent's Warrant with a term of two years from the date of the issuance of the Agent's Warrant for 270,000 warrants each entitling Wingate to purchase one common share
of Icefloe at an exercise price of $0.
The common shares
, the flow through shares and the warrants comprising the Units as well as the underlying common shares
to the warrants will be subject to a resale restriction for a period of 4 months and 1 day following the closing date.