Compensation Option Shares definition

Compensation Option Shares means the Common Shares issuable upon exercise of the Compensation Options;

Compensation Option Shares means the Shares issuable upon exercise of the Compensation Options;

Compensation Option Shares has the meaning given to it above; “Compensation Option Warrants” has the meaning given to it above; “Compensation Options” has the meaning given to it above;

Examples of Compensation Option Shares in a sentence

• Compensation Options For their services in connection with the Offering, the Underwriters will receive non-transferrable Compensation Options to purchase an aggregate of 349,500 Compensation Option Shares (or 401,925 Compensation Option Shares if the Over-Allotment Option is exercised in full) at a price of $4.30 per Compensation Option Share.

• All necessary corporate action has been taken, or will be taken before Closing, to authorize the issue and sale of, and the delivery of certificates representing, the Unit Shares, Unit Warrants and Compensation Options and, upon payment of the requisite consideration therefor, the Unit Shares, Unit Warrant Shares and Compensation Option Shares will be validly issued as fully paid and non-assessable Common Shares.

• The Corporation shall have delivered copies of correspondence indicating that the Corporation has obtained all necessary approvals for the Offering and the listing of the Unit Shares, Warrant Shares and Compensation Option Shares to be listed on the TSX, subject only to the standard listing conditions.

• The Corporation has made an application to the CSE so that at the time of issue, the Offered Units, the Unit Shares, Unit Warrant Shares and Compensation Option Shares will have been conditionally approved for listing on the CSE, subject only to the Standard Listing Conditions.

• All necessary corporate action has been taken, or will be taken before Closing, to authorize the issue and sale of, and the delivery of certificates representing, the Unit Shares, Unit Warrants and Compensation Options and, upon fulfillment of the exercise requirements thereof, including payment of the requisite consideration therefor, the Unit Shares, Unit Warrant Shares and Compensation Option Shares will be validly issued as fully paid and non-assessable Common Shares.

More Definitions of Compensation Option Shares

Compensation Option Shares means the previously unissued Common Shares in the capital of the Company, as presently constituted, which will be issued upon the exercise of the Compensation Options;

Compensation Option Shares has the meaning given to that term in the seventh paragraph of this Agreement;

Compensation Option Shares shall include any securities issued pursuant to the exercise of the Underwriters’ Option. Although the offer to purchase the Offered Units is being made by the Underwriters as Purchasers (as defined below), the Underwriters will endeavour to arrange for substituted purchasers (collectively, the “Substituted Purchasers”) for the Offered Units under the applicable requirements in the Offering Jurisdictions (as defined below) with the effect that such Substituted Purchasers will be the initial Purchasers of the Offered Units. To the extent that Substituted Purchasers purchase Offered Units at the Closing (as defined below), the Underwriters shall not be obligated to purchase the Offered Units so purchased by such Substituted Purchasers. It is further understood that the Underwriters agree to purchase or cause to be purchased the Offered Units, and that this commitment is not subject to the Underwriters being able to arrange Substituted Purchasers. The Offered Units may be reoffered and resold to, or for the account or benefit of, persons in the United States (as defined below) and U.S. Persons (as defined below) on a private placement basis in accordance with Schedule “A” attached hereto, which Schedule forms a part of this Agreement, (i) by the Underwriters, acting through their U.S. Affiliates (as defined below), to Qualified Institutional Buyers (as defined below) on a private placement basis pursuant to the exemption from the registration requirements of the U.S. Securities Act (as defined below) provided by Rule 144A (as defined below) and (ii) by the Company to a limited number of Substituted Purchasers who are U.S. Accredited Investors (as defined below) on a private placement basis pursuant to the exemption from the registration requirements of the U.S. Securities Act provided by Rule 506(b) of Regulation D under the U.S. Securities Act and, in each case, pursuant to exemptions from the securities laws of each state of the United States, as applicable. The following are the terms and conditions of the agreement between the Company and the Underwriters:

Compensation Option Shares has the meaning given to that term in Section 10 of this Agreement;

Compensation Option Shares has the meaning ascribed to such term in Section 16 hereof. "Compensation Options" has the meaning ascribed to such term in Section 16 hereof. "Conversion Price" means $0.45 per Debenture Share.

Compensation Option Shares has the meaning ascribed thereto in Section 15;

Compensation Option Shares has the meaning given to it above;