As announced on February 10, 2017, April 20, 2017 and April 21, 2017, the Company has issued an aggregate of $40,940,673of Securities (as defined below) under the Original Prospectus and therefore, prior to the filing of the Amended Prospectus, had an aggregate of $9,059,327 of Securities unallocated under the Original Prospectus. The Amended Prospectus will allow the Company, in the aggregate, to offer, from time to time, up to $150,000,000 of Securities of which $109,059,327 is unallocated as of the date hereof during the period ending February 25, 2019 that the Amended Prospectus remains effective (the “Effective Period”).
The Amended Prospectus will enable the Company to make offerings of up to $150,000,000 of common shares, preferred shares, debt securities, warrants, units or subscription receipts of the Company (collectively, the “Securities”) or a combination thereof from time to time, separately or together, in amounts, at prices and on terms to be determined based on market conditions at the time of the offering and as set out in an accompanying prospectus supplement during the Effective Period. The specific terms of any future offering will be established in a prospectus supplement to the Amended Prospectus, which supplement will be filed with the applicable Canadian securities regulatory authorities. The net proceeds from any sale of any securities will be used for purposes as set out in the applicable Amended Prospectus supplement.