I'm a little confused. Not taking into consideration the C$2m break fee if they do not exercise the option; The option period is extended to 31st Aug for C$8.5m. However if they don't exercise by 31st July, they will then owe an additional C$3m + 5,000,000 shares?
Essentially it's going to cost C$11.5m (~$12.8m AUD) if they wait until August to exercise - is this correct?
Edit - sorry I misunderstood that the C$3m is part of the deferred amount payable. So this would come off the top. However I believe the C$8.5m is not deducted from the total acquisition amount. That's how I'm reading it anyhow... company needs to clarify ASAP.
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