Apr. 7 at 2:18 PM
$AETHF In connection with the Proposed Transaction, Arion intends to undertake a non-brokered private placement offering of a minimum of 7,142,857 units of Arion (each, an “ Arion Unit ”), at a price of
$0.336 per Arion Unit, for minimum aggregate gross proceeds of
$1,000,000 (the “ Arion Financing ”). Each Unit will be composed of one (1) common share of Arion (an “ Arion Financing Share ”) and one-half of one (1/2) common share purchase warrant of Arion (each whole warrant, an “ Arion Financing Warrant ”), exercisable at
$0.60 for three years from issuance. Pursuant to the Agreement, upon completion of the Proposed Transaction, each Arion Financing Share will be exchanged for 2.4 common shares of the Company (the “ Aether Financing Shares ”) and each Arion Financing Warrant will become exercisable into 2.4 common shares of the Company (each whole share, an “ Aether Financing Warrant Share ”) at an exercise price of
$0.25 per Aether Financing Warrant Share.
