Conversion of Warrant. In lieu of exercising this Warrant as --- --------------------- specified in section 1(c), the Holder may from time-to-time during the Exercise ------------ Period convert this Warrant, in whole or in part, into a number of Warrant Shares determined by dividing (x) the aggregate Fair Market Value of the Warrant Shares or other securities issuable upon exercise of this Warrant minus the aggregate Warrant Price of such Warrant Shares by (y) the Fair Market Value of one Warrant Share.
Appears in 2 contracts
Sources: Warrant Agreement (Pinnacle Oil International Inc), Warrant Agreement (Pinnacle Oil International Inc)