Warrants Callable by Company. The Company shall have the right to redeem the Warrants at any time if (i) the closing price of the Common Stock is above $5.00 per share (subject to adjustment and readjustment from time to time as provided in Section 3) on ten (10) consecutive trading days following the Closing Date as reported for the primary exchange on which the Common Stock is listed. If the Company has the right to call the Warrants and it elects to do so, it will deliver written notice to the Holder that the Company intends to redeem the Warrants at a price of $0.01 per Warrant (the “Call Price”) on the thirtieth (30th) day following the date of that notice (or, if that day is not a trading day for the Common Stock, then on the next following day that is a trading day for the Common Stock (the “Call Date”), and the Company shall then redeem all Warrants to the extent the Warrants have not been exercised in accordance with Section 2 by the trading day preceding the Call Date. The Company shall pay the redemption money to the Holders entitled to it upon surrenders by them of their Warrants for redemption. The Company shall cancel all Warrants surrendered for redemption. All rights to exercise the Warrants shall terminate as of the end of the trading day preceding the Call Date.
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Sources: Securities Exchange Agreement (General Cannabis Corp)
Warrants Callable by Company. The Company shall have the right to redeem the Warrants at any time if (i) the closing price of the Common Stock is above $5.00 per share (subject to adjustment and readjustment from time to time as provided in Section 3) on ten (10) consecutive trading days following the Closing Date as reported for the primary exchange or quotation system on which the Common Stock is listedlisted or quoted. If the Company has the right to call the Warrants and it elects to do so, it will deliver written notice to the Holder that the Company intends to redeem the Warrants at a price of $0.01 per Warrant (the “Call Price”) on the thirtieth (30th) day following the date of that notice (or, if that day is not a trading day for the Common Stock, then on the next following day that is a trading day for the Common Stock (the “Call Date”), and the Company shall then redeem all Warrants to the extent the Warrants have not been exercised in accordance with Section 2 by the trading day preceding the Call Date. The Company shall pay the redemption money to the Holders entitled to it upon surrenders by them of their Warrants for redemption. The Company shall cancel all Warrants surrendered for redemption. All rights to exercise the Warrants shall terminate as of the end of the trading day preceding the Call Date.
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Warrants Callable by Company. The Company shall have the right to redeem the Warrants at any time if (i) the closing price of ADSs on any trading day is at or above 150% of the Common Stock is above $5.00 per share then-current Exercise Price or (subject to adjustment and readjustment from time to time as provided in Section 3ii) ADS trades are reported on ten (10) consecutive trading days following the Closing Date as reported for the primary exchange on which the Common Stock is listedat a price at or above $_____ per ADS. If the Company has the right to call the Warrants and it elects to do so, it will deliver written notice to the Warrant Agent and the Warrant Agent will notify the Holder that the Company intends to redeem the Warrants at a price of $0.01 _____ per Warrant (“the “Call Price”) on the thirtieth (30th) tenth day following the date of that notice (or, if that day is not a trading day for the Common StockADS, then on the next following day that is a trading day for the Common Stock ADSs (the “Call Date”), and the Company shall then redeem all Warrants with respect to the extent the Warrants have which a valid redemption notice has not been exercised in accordance with Section 2 received by the trading day preceding the Call Date. The Company Warrant Agent shall pay the redemption money to the Holders entitled to it upon surrenders by them of their Warrants for redemption. The Company Warrant Agent shall cancel all Warrants surrendered for redemption. All rights to exercise the Warrants shall terminate as of the end of the trading day preceding the Call Date.
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