Seems to me that KZR gets $3m now, but the total number of shares is not determined.
If the sp remains under 50c, they will subscribe for their $3m at a bit under prevailing market prices.
If the sp goes over 50c they can subscribe at 50c.
Looks to me Lind expects the price to increase above 50- because of the Lithium JV (SQM exploration) and maybe gold discovery.
So KZ gets $3m now. And effectively is raising capital at 50c. GOOD FOR KZR.
Lind gets shares over a period, but possibly at a great reduction to a sp over 50. GOOD FOR THEM.
Looks like WIN-WIN.
Ann: High Grade Assays from Granite Flat, page-16
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