Sorry Chris, can you please highlight where it says:
"The underwriter won’t give them any funds until the 31st of December 2020"
I don't see ANYWHERE the date of the actual funding is mentioned. All I see is that they will subscribe for whatever options remained unexercised as of 31/12/2020.
I would be hopeful you understand in a funding situation that the actual funds can very well come through before a subscription date? Hence the 'guarantee' on the $10.5m.
Plummer
Ann: SKN announces $10.5m Options Underwriting Agreement, page-125
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