Ann: Change in substantial holding, page-30

Oh there are many stings.... for retail anyways

The options may all be granted without an ounce of Li being found .... the little word "or" in each tranche.

this is the first tranche wording

"12,500,000 Options exercisable at $0.16 per Option on or before the date that is 2 years from the date of issue of the Options, vesting upon either of the following occurring: (i) the Company announcing a drill intercept of at least 5 metres true width at an average grade of 1% Li2O; or

(ii) the VWAP of Shares in the Company over 5 consecutive trading days (on which Shares have actually traded) exceeding $0.25 per Share, provided that Obsidian remains engaged by the Company at the date on which this occurs;

And cashless exercise on top.

So GRE gets no cash on a cashless exercise..... So then GRE needs another CR, at a discount you would expect based on previous, will OMG get to take a chunk of the CR with the discount price tag? Of course the broker would get a bite on a CR which it wouldn't if the funds came from a real Cash exercise.