May 10, 2024 Regulatory filing post SEA merger detailing Vestcor holdings
As of April 30, 2024, the Investor exercised control over the following:
32,821,731 Common Shares, representing 6.87% of the issuers 478,000,000 issued and outstanding shares, as reported by the Issuer
13,710,506 Convertible Preferred Shares that are eligible to be converted into Common shares of the issuer at Investor’s discretion. These represent 8.54% of the issued and outstanding Preferred Shares, as reported by the Issuer in the merger agreement. The conversion ratio to Common shares is 1-to-1
6,840,000 Par of Senior Secured Convertible Debentures which are eligible to be converted into Common shares of the issuer at Vestcor’s discretion. The conversion ratio is 416 Common Shares for every $1,000 Par.
13,192,842 Common Share Purchase Warrants with a strike price of $0.81 and an expiry of April 5, 2029
1,125,000 Common Share Purchase Warrants with a strike price of $2.00 and an expiry of February 4, 2025
2,845,400 Common Share Purchase Warrants with a strike price of $2.40 and an expiry of December 31, 2027
$53,446,961 US Senior Secured Convertible Promissory Note. This Senior Secured Convertible Promissory Note is not eligible to be converted to common shares until April 4, 2025
June 10, 2024 Updated Regulatory filing detailing Vestcor holdings [No change in holdings; Corrects % of holdings based on previously mis-stated outstanding shares]
As of May 31, 2024, the Investor exercised control over the following:
32,821,731 Common Shares, representing 9.43% of the issuers 348,178,019 issued and outstanding common shares, as reported by the Issuer in their Q1 MD&A prepared as of May 15, 2024
13,710,506 Convertible Preferred Shares that are eligible to be converted into Common shares of the issuer at Investor’s discretion. These represent 8.54% of the 160,589,446 issued and outstanding Preferred Shares, as reported by the Issuer in their Q1 MD&A prepared as of May 15, 2024. The conversion ratio to Common shares is 1-to-1
6,840,000 Par of Senior Secured Convertible Debentures which are eligible to be converted into Common shares of the issuer at Vestcor’s discretion. The conversion ratio is 416 Common Shares for every $1,000 Par.
13,192,842 Common Share Purchase Warrants with a strike price of $0.81 and an expiry of April 5, 2029
1,125,000 Common Share Purchase Warrants with a strike price of $2.00 and an expiry of February 4, 2025
2,845,400 Common Share Purchase Warrants with a strike price of $2.40 and an expiry of December 31, 2027
$53,446,961 US Senior Secured Convertible Promissory Note. This Senior Secured Convertible Promissory Note is not eligible to be converted to common shares until April 4, 2025
August 13, 2024 Updated Regulatory filing detailing Vestcor holdings [Additional Loan of US$3 Million; Removed Conversion option of Promissory note; Addition of shares from interest payment (Shows they hold about half of the debentures)]
As of July 31, 2024, the Investor exercised control over the following:
33,742,712 Common Shares, representing 9.69% of the issuers 348,178,019 issued and outstanding common shares, as reported by the Issuer in their Q1 MD&A prepared as of May 15, 2024
13,710,506 Convertible Preferred Shares that are eligible to be converted into Common shares of the issuer at Investor’s discretion. These represent 8.54% of the 160,589,446 issued and outstanding Preferred Shares, as reported by the Issuer in their Q1 MD&A prepared as of May 15, 2024. The conversion ratio to Common shares is 1-to-1
6,840,000 Par of Senior Secured Convertible Debentures which are eligible to be converted into Common shares of the issuer at Vestcor’s discretion. The conversion ratio is 416 Common Shares for every $1,000 Par.
13,192,842 Common Share Purchase Warrants with a strike price of $0.81 and an expiry of April 5, 2029
1,125,000 Common Share Purchase Warrants with a strike price of $2.00 and an expiry of February 4, 2025
2,845,400 Common Share Purchase Warrants with a strike price of $2.40 and an expiry of December 31, 2027
$56,446,961 US Senior Secured Convertible Promissory Note