Price and Chart HIO, page-1586

Actually I would say that technically the options have been issued already; just that their strike price has not yet been set (so they could not be exercised yet).

Depending on which document you use you could infer that:

• the strike price will be set at the lower of $0.70 or 125% of the 90-day VWAP at 2 year anniversary date (from announcement "Hawsons secures A$ 200m equity funding package")

or

• the strike price will be set at $0.70 if the price (closing?) reaches $0.55 at any time in the next ~18 months, possibly tomorrow (from the Company Update)

The difference is significant as in the second case I agree with @johntie that 71 million options with a strike price of $0.70 in play could definitely be a headwind for the share price much beyond $0.70 for a while depending on what sort of return LDA is happy with, just look at what happened with Regal over the last 8-12 months (they held ~70 million shares in Aug 21)