NEXOPTIC TECHNOLOGY CORP ("NXO")
BULLETIN TYPE: Property-Asset or Share Purchase Amending Agreement
BULLETIN DATE: November 7, 2017
TSX Venture Tier 2 Company
Further to the Exchange Bulletin issued February 19, 2016, the Exchange has been advised that the NexOptic Technology Corp (the "Company") has completed all its obligations to acquire Spectrum Optix in accordance with an Investment Agreement dated October 22, 2015 and as amended December 1, 2015 and January 13, 2016 between Elissa Resources Ltd (now NexOptic Technology Corp), Spectrum Optix Inc ("Spectrum"), 3DB Inc, 1859764 Alberta Inc., John Daugela, Darcy Daugela and Aaron Hoddinott (collectively, the "Optionors").
In order to acquire Spectrum, the Company issued 43,767,172 shares and 8,461,815 warrants. The warrants are exercisable at prices ranging from $1.12 to $1.75 and expire on dates ranging from June 21, 2018 to June 7, 2022 as follows:
Number of Warrants
Exercise Price
Expiry Date
1,149,982
$1.12
June 21, 2018
118,354
$1.12
February 23, 2019 (1)
3,727,403
$1.50
February 23, 2019
1,136,154
$1.12
September 21, 2020
53,846
$1.12
February 22, 2021
404,923
$1.12
July 5, 2021
175,000
$1.12
September 14, 2021
296,154
$1.12
January 10, 2022
1,400,000
$1.75
June 7, 2022
(1) The 118,354 warrants expiring on February 23, 2019 are exercisable into Units. Each Unit is comprised of one common share and one warrant exercisable at a price of $1.50 per common share until February 23, 2019.
Exercise of the these warrants is conditioned upon and subject to the exercise of corresponding classes of options and warrants of the Company outstanding prior to completion of the acquisition of Spectrum, such that for each 65 common shares of the Company issued on the exercise of existing options and warrants, the holders of the warrants may exercise in the aggregate only 35 corresponding warrants.
In addition, the Company paid the final instalment in accordance with the finder's fee agreement between the Company and Alexander Smith ("Finder") dated November 16, 2017. The Finder received $200,000 cash and 254,237 shares.
Further information can be found in the Company's news releases dated September 20, 2017 and November 6, 2017.
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