Issue of Subscription Receipts Clause Samples

Issue of Subscription Receipts. ‌ An aggregate of up to 10,833,333 Subscription Receipts are hereby created and authorized to be issued by the Corporation, comprising of 3,333,333 Subscription Receipts – A at a price equal to $0.15 per Subscription Receipt – A and 7,500,000 Subscritpion Receipts – B at a price equal to $0.20 per Subscription Receipt – B. An aggregate of ⚫ Subscription Receipts are hereby issued, and one or more Subscription Receipt Certificates dated the date hereof shall be executed by or on behalf of the Corporation, certified by or on behalf of the Subscription Receipt Agent upon written direction of the Corporation and delivered to the Agent in accordance with this Agreement. Each Subscription Receipt Certificate, certificated or uncertificated, shall bear the following legend: “UNLESS PERMITTED UNDER SECURITIES LEGISLATION, THE HOLDER OF THIS SECURITY MUST NOT TRADE THE SECURITY BEFORE THE DATE THAT IS 4-MONTH AND DAY AFTER THE DATE OF ISSUANCE OF THE SECURITY.” Subject to the terms and conditions hereof, the Subscription Receipts issued will be automatically converted at the Escrow Release Time, without payment of additional consideration by the Receiptholder, as follows: (i) Each Subscription Receipt – A will be converted into one Unit comprising of one (1) Common Share and one half (½) Warrant. (ii) Each Subscription Receipt – B will be converted into one of (1) Flow Through Share.

Issue of Subscription Receipts. The creation by the Corporation of a total of up to 40,000,000 Subscription Receipts to acquire an aggregate of 10,000,000 Units and the issuance of such Units at the Purchase Price is hereby authorized. Subscription Receipt Certificates evidencing Subscription Receipts shall be executed by the Corporation and, upon the written order of the Corporation, shall be manually certified by or on behalf of the Subscription Receipt Agent and delivered by the Subscription Receipt Agent to the Corporation in accordance with such written order of the Corporation, without any further act or formality on the part of the Corporation and without the Subscription Receipt Agent receiving any consideration therefor. The Subscription Receipts shall be issued in definitive form represented by Subscription Receipt Certificates and shall be substantially in the form set out in Schedule “A” hereto. The Subscription Receipt Certificates shall be dated as of the date hereof (regardless of the actual date of their issue) with such appropriate additions and variations as shall be required and shall bear such distinguishing letters and numbers as the Corporation and Subscription Receipt Agent may approve from time to time and will be issuable in whole number denomination.

Issue of Subscription Receipts. 6 2.1 Payment Acknowledgement 6 2.2 Terms and Issue of Subscription Receipts 7 2.3 Fractional Subscription Receipts 8 2.4 Register for Subscription Receipts 8 2.5 Registers Open for Inspection 8 2.6 Receiptholder not a Shareholder 8 2.7 Subscription Receipts to Rank Pari Passu 8 2.8 Signing of Subscription Receipt Certificates 8 2.9 Certification by the Subscription Receipt Agent 9 2.10 Issue in Substitution for Subscription Receipt Certificates Lost, etc 9 2.11 Exchange of Subscription Receipt Certificates 10 2.12 Charges for Exchange 10 2.13 Transfer and Ownership of Subscription Receipts 10 2.14 Escrowed Subscription Funds to be Placed in Escrow 11 2.15 Liquidation or Bankruptcy of the Corporation 12 2.16 U.S. Legends 12 2.17 Certain Transfers 13 2.18 Listing of Subscription Receipts 13

Issue of Subscription Receipts. 10 ARTICLE 3 ESCROW RELEASE OR TERMINATION 19

Issue of Subscription Receipts. The Subscription Receipts shall be issued in the form attached as Schedule A hereto. The issuance thereof shall be evidenced by the issuance of a certificate therefor in accordance with the terms of this Indenture. The execution of this Indenture, in and of itself, does not consitute evidence of the receipt by the Subscription Receipt Agent of any Proceeds absent the issuance of any Subscription Receipts.

Issue of Subscription Receipts. The creation by the Company of up to 27,500,000 Subscription Receipts, and the issuance of each of such securities at the Purchase Price is hereby authorized. Subscription Receipt Certificates evidencing Subscription Receipts shall be executed by the Company in accordance with Section 2.5 hereof and, upon the written direction of the Company, shall be certified by or on behalf of the Subscription Receipt Agent and delivered by the Subscription Receipt Agent to the Company in accordance with such written direction of the Company for no additional consideration and without further action.

Issue of Subscription Receipts. On the Closing Date and subject to the terms of this Agreement, the Company will duly and validly issue the Subscription Receipts pursuant to the terms of the Subscription Agreements.

Issue of Subscription Receipts. (a) An aggregate of 28,572,000 Subscription Receipts (or 32,857,800 Subscription Receipts if the Underwriters’ Option is exercised in full), are hereby created and authorized for issue at a price of $0.28 per Subscription Receipt, upon the terms and conditions herein set forth. (b) One Subscription Receipt shall be issued, without any further act or formality, on the Closing Date, for each $0.28 received by the Company as payment therefor and each such Subscription Receipt shall be a fully paid and non-assessable security of the Company.

Issue of Subscription Receipts. 8 2.1 Issue of Subscription Receipts 8 2.2 Terms of Subscription Receipts 8 2.3 Issue in Substitution for Lost Subscription Receipts 8 2.4 Subscription Receiptholder not a Shareholder 9 2.5 Subscription Receipts to Rank Pari Passu 9 2.6 Signing of Subscription Receipts 9 2.7 Certification by the Subscription Receipt Agent 10 2.8 Transfer Restrictions and Legended Certificates 10