Common use of Conversion of Preferred Shares Clause in Contracts

Conversion of Preferred Shares. If the Class is a class and series of the Company’s convertible preferred shares, in the event that all outstanding shares of the Class are converted, automatically or by action of the holders thereof, into Common Shares pursuant to the provisions of the Company’s constating documents, including, without limitation, in connection with the Company’s initial, underwritten public offering and sale of its Common Shares pursuant to an effective registration statement under the Act or by way of prospectus under applicable Canadian securities laws (the “IPO”), then from and after the date on which all outstanding shares of the Class have been so converted, this Warrant shall be exercisable for such number of Common Shares into which the Shares would have been converted had the Shares been outstanding on the date of such conversion, and the Warrant Price shall equal the Warrant Price in effect as of immediately prior to such conversion divided by the number of Common Shares into which one Share would have been converted, all subject to further adjustment thereafter from time to time in accordance with the provisions of this Warrant.]2

Conversion of Preferred Shares. If the Class is a class and series of the Company’s convertible preferred shares, in the event that all outstanding shares of the Class are converted, automatically or by action of the holders thereof, into Common Shares ordinary shares pursuant to the provisions of the Company’s constating documentsConstitution, including, without limitation, in connection with the Company’s initial, underwritten public offering and sale of its Common Shares ordinary shares pursuant to an effective registration statement under the Act or by way of prospectus under applicable Canadian securities laws (the “IPO”), then from and after the date on which all outstanding shares of the Class have been so converted, this Warrant shall be exercisable for such number of Common Shares shares of ordinary shares into which the Shares would have been converted had the Shares been outstanding on the date of such conversion, and the Warrant Price shall equal the Warrant Price in effect as of immediately prior to such conversion divided by the number of Common Shares shares of ordinary shares into which one Share would have been converted, all subject to further adjustment thereafter from time to time in accordance with the provisions of this Warrant.]2Warrant.

Conversion of Preferred Shares. If the Class is a class and series of the Company’s convertible preferred shares, in the event that all outstanding shares of the Class are converted, automatically or by action of the holders thereof, into Common Shares ordinary shares pursuant to the provisions of the Company’s constating documentsCertificate of Incorporation as then in effect, including, without limitation, in connection with the Company’s initial, underwritten public offering and sale of its Common Shares pursuant to an effective registration statement under the Act or by way of prospectus under applicable Canadian securities laws IPO (the “IPO”as hereinafter defined), then from and after the date on which all outstanding shares of the Class have been so converted, this Warrant shall be exercisable for such number of Common Shares shares of ordinary shares into which the Shares would have been converted had the Shares been outstanding on the date of such conversion, and the Warrant Exercise Price shall equal the Warrant Exercise Price in effect as of immediately prior to such conversion divided by the number of Common Shares shares of ordinary shares into which one Share would have been converted, all subject to further adjustment thereafter from time to time in accordance with the provisions of this Warrant.]2Warrant.

Conversion of Preferred Shares. If the Class is a class and series of the Company’s convertible preferred shares, in the event that all outstanding shares of the Class are converted, automatically or by action of the holders thereof, into Common Shares ordinary shares pursuant to the provisions of the Company’s constating documentsArticles of Association as then in effect, including, without limitation, in connection with the Company’s initial, underwritten public offering and sale of its Common Shares pursuant to an effective registration statement under the Act or by way of prospectus under applicable Canadian securities laws IPO (the “IPO”as hereinafter defined), then from and after the date on which all outstanding shares of the Class have been so converted, this Warrant shall be exercisable for such number of Common Shares shares of ordinary shares into which the Shares would have been converted had the Shares been outstanding on the date of such conversion, and the Warrant Exercise Price shall equal the Warrant Exercise Price in effect as of immediately prior to such conversion divided by the number of Common Shares shares of ordinary shares into which one Share would have been converted, all subject to further adjustment thereafter from time to time in accordance with the provisions of this Warrant.]2Warrant.]

Conversion of Preferred Shares. If the Class is a class and series of the Company’s convertible preferred shares, in the event that all outstanding shares of the Class are converted, automatically or by action of the holders thereof, into Common Shares ordinary shares pursuant to the provisions of the Company’s constating documentsArticles of Association (as may be amended from time to time) (the “Articles of Association”), including, without limitation, in connection with the Company’s initial, underwritten public offering and sale of its Common Shares ordinary shares pursuant to an effective registration statement under the Act or by way of prospectus under applicable Canadian securities laws (the “IPO”), then from and after the date on which all outstanding shares of the Class have been so converted, this Warrant shall be exercisable for such number of Common Shares ordinary shares into which the Shares would have been converted had the Shares been outstanding on the date of such conversion, and the Warrant Price shall equal the Warrant Price in effect as of immediately prior to such conversion divided by the number of Common Shares ordinary shares into which one Share would have been converted, all subject to further adjustment thereafter from time to time in accordance with the provisions of this Warrant.]2Warrant.