- Nextleaf (OILS) announces the launch of an early warrant exercise incentive program and repricing
- Nextleaf will amend the exercise price of the warrants from $0.70 per common share of Nextleaf to C$0.265 per Share
- Also, Nextleaf has issued an aggregate of 24,528 shares for C$0.265 per share
- Nextleaf is a cannabis processor that owns one of the largest portfolios of U.S. patents for the extraction, distillation, and delivery of cannabinoids.
- Nextleaf Solutions Ltd. (OILS) is in the grey and is trading at C$0.26 at 12:10 pm ET
Nextleaf Solutions (OILS) has implemented a warrant exercise incentive program.
The program is designed to encourage the exercise of up to 10,400,000 of its outstanding share purchase warrants expiring on May 15, 2021.
Nextleaf will amend the warrants’ exercise price from $0.70 per common share of Nextleaf to C$0.265 per Share.
If, for any 10 consecutive trading days during the unexpired term of the warrants the closing price of the shares on the Canadian Securities Exchange exceeds C$0.33, then, upon Nextleafs sending a notice to the holders, the warrants will only be exercisable for a period of 30 days following the date of such notice.
Under the incentive program, Nextleaf is offering an inducement to each warrant holder who exercises its warrants before May 15, 2021.
All warrants exercised before May 15, 2021, will receive one additional share purchase warrant for each warrant exercised. Each incentive warrant will entitle the holder to purchase one additional share at C$0.35 per share until May 15, 2022, subject to acceleration.
If for any 10 consecutive trading days during the term, the closing price of the shares on the CSE exceeds C$0.44, then, upon Nextleaf sending to the holders of the incentive warrants notice of acceleration of the expiry date by way of a news release, the incentive warrants will only be exercisable for a period of 30 days following the date of such news release.
Any shares issued upon exercise of the incentive warrants will be subject to a statutory four-month and one-day hold period from the date of issuance of the incentive warrants.
Also, Nextleaf has issued an aggregate of 24,528 Shares for C$0.265 per share, representing an aggregate value of C$6,500, to consultants of Nextleaf, as compensation for services provided.
Nextleaf is a cannabis processor that owns one of the largest portfolios of U.S. patents for the extraction, distillation, and delivery of cannabinoids.
Nextleaf Solutions Ltd. (OILS) is in the grey and is trading at C$0.26 at 12:10 pm ET.
