ISee3D Announces Early Exercise Warrant Incentive Program
2011年4月6日 - 6:42AM
Marketwired
ISee3D Inc. (the "Company" or "ISee3D") (TSX VENTURE: ICT) is
pleased to announce a warrant exercise incentive program (the
"Warrant Program") designed to encourage the early exercise of up
to 6,393,682 of its outstanding unlisted warrants (the "Warrants"),
subject to receipt of all necessary regulatory approvals, including
that of the TSX Venture Exchange. The Warrants currently entitle
the holder thereof to acquire one common share of the Company (a
"Common Share") at a price of $0.20 until May 12 and June 29, 2011
respectively. All holders of the Warrants (a "Warrant Holder") are
offered an incentive consisting of one-half of a warrant (each
whole warrant an "Incentive Warrant") to encourage the early
voluntary exercise of the Warrants for a period of 20 days
commencing April 6, 2011 and ending 5:00PM (Toronto time) on April
26, 2011 (the "Early Exercise Period"). Only those Warrant Holders
who exercise their Warrants during the Early Exercise Period will
be eligible to receive the Incentive Warrants.
Each Incentive Warrant will be exercisable for one Common Share
at a price of $0.25 per share for a period of 12 months following
closing of the Warrant Program. The Incentive Warrants and any
Common Shares issuable on the exercise thereof will be subject to a
four month hold period commencing on the date of issuance of the
Incentive Warrants pursuant to applicable Canadian securities laws.
The Company may accelerate the expiry date of the Incentive
Warrants if the Company's common stock on the TSX Venture Exchange
trades at $0.35 or higher over a period of 10 consecutive trading
days.
A 5% cash finder's fee may be payable to qualified persons or
companies who assist the Company in encouraging Warrant Holders to
exercise their Warrants.
If all Warrants are exercised on or before the expiry of the
Early Exercise Period, the Company expects it will:
-- receive gross proceeds of $1,278,736.40;
-- issue 6,393,682 Common Shares; and
-- issue 3,196,841 Incentive Warrants.
Warrant Holders who elect to participate in the Warrant Program
will be required to deliver to the Company the following:
(i) a duly executed warrant exercise and subscription agreement
(the "Exercise Agreement");
(ii) the original certificate representing the Warrants being
exercised; and
(iii) the applicable aggregate exercise price payable to the
Company by way of certified cheque, bank draft or wire
transfer.
The terms and conditions of the Warrant Program and the method
of exercising Warrants pursuant to the Warrant Program will be set
forth in the Exercise Agreement, which will be mailed to the
registered address of each Warrant holder. The summary of the
Warrant Program herein is subject in its entirety to the terms and
conditions of the Exercise Agreement. The Incentive Warrants will
only be issued to participating Warrant Holders who qualify under
appropriate prospectus and registration exemptions and applicable
securities laws.
To the extent that holders of the Warrants take advantage of the
opportunity to exercise their Warrants early, this will strengthen
ISee3D's current cash position and provide the Company with
additional working capital to allow it to continue
commercialization of its single lens 3D technology. Warrants that
remain unexercised following the completion of the Early Exercise
Period will continue to be exercisable for Common Shares on the
original terms as they existed prior to the Warrant Program.
About ISee3D
ISee3D is driving the universal adoption of 3D single lens
capture - from consumers and Hollywood to health care and military.
The Company is introducing the first commercially feasible single
lens, single camera 3D capture technology. Scalable in size from
one mm in diameter to more than 250mm, the patented technology can
be applied across many devices. Through its patented optical switch
technologies, ISee3D continues to aggressively pursue the best in
3D innovation to ensure an immersive 3D viewing experience, rather
than the traditional two lenses or 2D conversion approaches that
are the current standard. The Company is headquartered in Vancouver
with offices in Toronto.
Statements included in this announcement, including statements
concerning our plans, intentions and expectations, which are not
historical in nature are intended to be, and are hereby identified
as, "forward-looking statements" for purposes of the safe harbor
provided by Section 21E of the Securities Exchange Act of 1934, as
amended by the Private Securities Litigation Reform Act of 1995.
Forward-looking statements may be identified by words including
"anticipates", "believes", "intends", "estimates", "expects" and
similar expressions. The company caut ions readers that
forward-looking statements, including without limitation those
relating to the company's future operations and business prospects,
are subject to certain risks and uncertainties that could cause
actual results to differ materially from those indicated in the
forward-looking statements.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Contacts: ISee3D Inc. Tom Dalrymple Chief Operating Officer
Office: 416-848-6353 tdalrymple@isee3d.com
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