Warrants
 6 Months Ended
Aug. 31, 2021
Warrants  
18. Warrants

18. Warrants

 

During the six-month period ended August 31, 2021, the Company issued warrants to purchase 7,550,698 shares of our common stock. No warrants were exercised, were forfeited, nor expired in the six-month period ended August 31, 2021. The table below summarizes the warrants granted during the six-month period ended August 31, 2021:

 

Number of warrants

 

Exercise Price

 

Expiration date

4,714,813

 

$

15.00

 

July 29, 2024

2,357,407

 

 

20.00

 

(1)

461,298

 

 

11.00

 

June 14, 2022

17,180

 

$

11.00

 

August 26, 2024

_______________ 

 

(1)

Expiration date is the earlier of (A) the date that is the third anniversary of the First Plant Milestone (as defined in the Second Tranche Warrants), (B) the expiration of the JV Negotiation Period (as defined in the Second Tranche Warrants), provided that the Joint Venture Transaction Agreements (as defined in the Second Tranche Warrants) have not been executed by the expiration of the JV Negotiation Period and (C) the third anniversary of the BDP Date (as defined in the Second Tranche Warrants), provided that the First Plant Milestone has not occurred as of such date.

 

During the six-month period ended August 31, 2020, the Company issued, in exchange for consulting services, a warrant to purchase 25,000 shares of our common stock at the price of $9.43 per share expiring May 12, 2022 and warrants to issue 200,000 shares of our common stock with an exercise price of $11.00 expired. No warrants were exercised or forfeited in the six-month period ended August 31, 2021.