Item 2. Unregistered Sales of Equity Securities
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds
During our fiscal quarter ended April 30, 2021, we issued the following securities that were not registered under the Securities Act:
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on February 12, 2021, we issued an aggregate of 24,545 shares of common stock to a consultant in consideration for services under a consulting agreement at a deemed issuance price of $1.10 per share. We relied on exemptions from registration under the Securities Act provided by Regulation S and/or Section 4(a)(2) with respect to the issuance of these shares;
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on February 22, 2021, we issued an aggregate of 3,982 shares of common stock to a consultant in consideration for services under a consulting agreement at a deemed issuance price of $2.26 per share. We relied on exemptions from registration under the Securities Act provided by Regulation S and/or Section 4(a)(2) with respect to the issuance of these shares;
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on March 19, 2021, we issued 9,375 shares of common stock pursuant to the net (cashless) exercise of outstanding warrants at a deemed price of $2.05 per share. We relied on exemptions from registration under the Securities Act provided by Rule 506(b) of Regulation D and/or Section 4(a)(2) with respect to the issuance of the shares;
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on April 1, 2021, we issued an aggregate of 9,600 shares of common stock pursuant to the net (cashless) exercise of outstanding warrants at a deemed price of $2.05 per share. We relied on exemptions from registration under the Securities Act provided by Regulation S and/or Section 4(a)(2) with respect to the issuance of the shares to the non-U.S. persons and exemptions from registration under the Securities Act provided by Rule 506(b) of Regulation D and/or Section 4(a)(2) with respect to the issuance of shares to U.S. persons;
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on April 8, 2021, we issued an aggregate of 150,000 shares of common stock to a consultant in consideration for services under a consulting agreement at a deemed issuance price of $2.65 per share. We relied on exemptions from registration under the Securities Act provided by Regulation S and/or Section 4(a)(2) with respect to the issuance of these shares;
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on April 8, 2021, in connection with the April 2021 Offering, we issued, on a private placement basis, 181,818 Agent’s Warrants to the agent as partial compensation, and each Agent Warrant entitles its holder to acquire one share of common stock at an exercise price of $4.125 per share and expiring five years from the date of issuance. We relied on exemptions from registration under the Securities Act provided by Section 4(2) with respect to the issuance of these Agent’s Warrants;
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on April 14, 2021, we issued an aggregate of 26,666 shares of common stock to a consultant in consideration for services under a consulting agreement at a deemed issuance price of $2.04 per share. We relied on exemptions from registration under the Securities Act provided by Regulation S and/or Section 4(a)(2) with respect to the issuance of these shares;
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on April 28, 2021, we issued 10,409 shares of common stock pursuant to the net (cashless) exercise of outstanding warrants having a deemed exercise price of $1.64 per share. We relied on exemptions from registration under the Securities Act provided by Rule 506(b) of Regulation D and/or Section 4(a)(2) with respect to the issuance of the shares; and
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on April 29, 2021, we issued an aggregate of 85,812 shares of common stock to a consultant in consideration for services under a consulting agreement at a deemed issuance price of $2.81 per share. We relied on exemptions from registration under the Securities Act provided by Regulation S and/or Section 4(a)(2) with respect to the issuance of these shares.
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Item 3. Defaults Upon Senior Securities
None.
Item 4. Mine Safety Disclosures
Pursuant to Section 1503(a) of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, issuers that are operators, or that have a subsidiary that is an operator, of a coal or other mine in the United States, and that is subject to regulation by the Federal Mine Safety and Health Administration under the Mine Safety and Health Act of 1977 (“Mine Safety Act”), are required to disclose in their periodic reports filed with the SEC information regarding specified health and safety violations, orders and citations, related assessments and legal actions and mining-related fatalities. During the quarter ended April 30, 2021, the Company’s Palangana Mine was not subject to regulation by the Mine Safety Act.
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