Each whole Warrant shall entitle each Warrantholder thereof, upon exercise at any time after the Issue Date and prior to the Expiry Time, to acquire the number of Warrant Shares determined by the Exchange Basis upon payment of the Exercise Price of $3.50. The Exchange Basis is subject to adjustment pursuant to the terms of the Warrant Indenture.
Following the consolidation of the common shares on July 28th, 2021, the Exchange Basis has been adjusted to 0.5 shares.
Please see the Warrant Indenture for Details.