if you sell your options on market.. you are basically selling your "right" to someone else to buy the shares at 25c... (people who do not believe this stock will go beyond 25 cents by Nov 2024 will sell them while those who believe it will be more than 25c by Nov 2024 will be buying up these options).
the 25c commitment will kick in when the owner of these options decides to exercise their right to convert the options to shares.
Lets say if come Nov 2024, the share price is still 20c... then there is no incentive for the owner of options to exercise their right to convert the options to shares.. they can just pick it up on market for 20c instead of committing 25c...
The options will expire on 11th Nov 2024. after this date... these options are considered "burnt"
Ann: Prospectus - Bonus Options, page-54
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