Item 2. Unregistered Sales of Equity Securities
Item
2. Unregistered Sales of Equity Securities and Use of Proceeds.
Issuer
Purchases of Equity Securities
On
September 9, 2021 the Company approved a repurchase program whereby the Company may purchase through the facilities of the TSX Venture
or NASDAQ (i) up to 1,341,515 Common Shares and (ii) up to 411,962 Listed Warrants in total, representing 10% of the 13,415,154 Common
Shares and 10% of the 4,119,622 Listed Warrants comprising the “public float” as of September 8, 2021, over the next 12 months.
The Company received final regulatory approval on September 22, 2021. On September 27, 2022 the Company completed the share buyback program,
repurchasing a total of 1,031,672 shares with a value of $9,098,014 (net of commissions), none of which were repurchased during the three
month period ended October 31,2022, and 259,059 Listed Warrants for $1,121,011 (net of commissions) with a fair value of $1,130,808 of
which 15,736 were repurchased and cancelled during the three-month period ended October 31,2022. All of the securities repurchased have
been cancelled.
The
following table contains information for the Listed Warrants repurchased during the three months ended October 31, 2022.
Month
Total
Number of
Warrants Purchased
Average
Price Paid
Per
Warrant
Total
Number of
Warrants Purchased
as Part of Publicly
Announced Plans or
Programs
Approximate Dollar
Value of Warrants
that May Yet Be
Purchased Under the
Plans or Programs
August 2022
8,836
$ 2.99
252,159
$ 477,811
September 2022
6,900
$ 2.89
259,059
-
October 2022
-
$ -
259,059
-
Total
15,736
$ 2.95
259,059
$ -
Item
3. Defaults Upon Senior Securities.
None.
Item
4. Mine Safety Disclosures.
Not
Applicable.
Text extracted from the filing as submitted to EDGAR. Formatting, tables and exhibits are simplified for reading; the original document is authoritative for anything you rely on.