Hi blackEos1According to the Completion of A$40.3M Placement...

Hi blackEos1

According to the Completion of A$40.3M Placement announcement on the 16th September:

Each Special Warrant entitles the holder to acquire one ordinary share (an "Ordinary Share") of
Extract for no further consideration. Each Special Warrant will be automatically exercised for no
additional consideration into one Share on a one-for-one basis at 5:00 p.m. (Toronto time) on the
earlier of the following dates: (i) the third business day after the date (“Qualification Date”) on which a
receipt is issued by the securities regulatory authorities in each of the provinces in Canada other than
Quebec (“Qualifying Jurisdictions”) for a final prospectus qualifying the Ordinary Shares to be issued
on exercise of the Special Warrants; and (ii) the date which is four months and a day after the closing
date (“Closing Date”) of the Placement, namely January 16, 2010.

As Gizmo has posted that the prospectus has now been issued I would think that clause (i) would apply.

I'm not sure about the “Qualification Date” mentioned but I would think it would have been the date that the prospectus was issued. If this is the case then I would expect a announcement some time next week to say that the warrants have been converted to ordinary shares.

Regards

Steve