Ann: Quarterly Activities Report 31 March 2020, page-33

Hi Pagarsi
that's possible it could be an extra 10 mil shares but that depends on how much $1.625 mil buys in 18 months ,if for example share price is still 15c ,10 mil extra shares would not be allowed as it would take us over the 19.5% (see my post 7/5/20 ) that would give us an extra 10,833,000 shares for a total of 30,833,000 shares ,current share total on issue is approx. 122,000,000 ,but I do not expect KWR shares to be any where close to 0.15 c in 18 months time but it does say the lower ,we could be ok because would expect KWR share base to have increased substantially by then so % wise we could be ok

para from issued statement 18/9/19

A deferred payment no later than 18 months after settlement of: o A further $1.625M in cash; and o $1.625M in value of ordinary shares in Kingwest at a deemed issue price being the lower of $0.15 per share and the 30 day VWAP (subject to shareholder approval and Horizon not exceeding 19.9% ownership in Kingwest).