Examples of Replacement Warrants in a sentence
On September 11, 2018 Waterton filed a claim with the Ontario Superior Court of Justice alleging breach of contract against Hecla, Klondex Mines Unlimited Liability Company and the Company for failure to honour the terms of the Original Warrant Certificate and, or in the alternative, a declaration that the Replacement Warrants do not satisfy Hecla’s obligations as successor-in-interest to Klondex’s obligations under the Original Warrant Certificate and a new replacement warrant.
Under the Arrangement, all existing warrants of Primero also became exercisable to acquire First Majestic shares at exercise prices adjusted by the Exchange Ratio ("Replacement Warrants").
The fair value of the Replacement Options and Replacement Warrants, determined using a Black-Scholes valuation model, resulted in a nominal value as the exercise prices of the options and warrants are significantly out-of-the-money based on the Exchange Ratio and underlying share price.
The Replacement Warrants are subject to vesting provisions over a period of one year.
The AMPD Holdings Warrants are convertible into Replacement Warrants (see “ Corporate Structure – Acquisition of AMPD Holdings”).