Common use of Warrants and exercise of Warrants Clause in Contracts

Warrants and exercise of Warrants. The Warrants forming part of the Units will be registered in the name of the Subscriber and will be non-transferable except in compliance with the United States Securities Act of 1933, as amended (the “U.S. Act”), and each such Warrant will entitle the Subscriber to purchase one additional common share of the Company (each a “Warrant Share”), for the period commencing upon the date of issuance of the within Units by the Board and ending at 5:00 p.m. (Westminster, CO, time) on the day which is two years from the date of issuance of the within Units (such time period being the “Warrant Exercise Period” herein), at an exercise price of U.S. $0.75 Per Warrant Share during the Warrant Exercise Period.

Warrants and exercise of Warrants. The Warrants forming part of the Units will be registered in the name of the Subscriber and will be non-transferable except in compliance with the United States Securities Act of 1933, as amended (the “U.S. Act”), and each such Warrant will entitle the Subscriber to purchase one additional common share of the Company (each a “Warrant Share”), for the period commencing upon the date of issuance of the within Units by the Board and ending at 5:00 p.m. (Westminster, CO, time) on the day which is two five years from the date of issuance of the within Units (such time period being the “Warrant Exercise Period” herein), at an exercise price of U.S. $0.75 0.45 Per Warrant Share during the Warrant Exercise Period.

Warrants and exercise of Warrants. The Warrants forming part of the Units will be registered in the name of the Subscriber and will be non-transferable except in compliance with the United States Securities Act of 1933, as amended (the “U.S. Act”), and each such Warrant will entitle the Subscriber to purchase one additional common share of the Company (each a “Warrant Share”), for the period commencing upon the date of issuance of the within Units by the Board and ending at 5:00 p.m. (Westminster, CO, time) on the day which is two three years from the date of issuance of the within Units (such time period being the “Warrant Exercise Period” herein), at an exercise price of U.S. $0.75 0.65 Per Warrant Share during the Warrant Exercise Period.