- Each of the 1,303,333 Warrants issued will entitle the holder to acquire one Share of NXT at an exercise price of US $1.20 and has a term of 2 years, expiring May 4, 2014;
- NXT has the option to call for acceleration of the expiry (the “Acceleration”, subject to a maximum of 50% in the first 6 months after issuance) of the Warrants if it issues a press release advising that its Shares have traded in excess of US $1.50 for 20 consecutive trading days on the Nasdaq OTCBB;
- Any Warrants subject to Acceleration shall expire 30 days after notice; and
- These new Shares and Warrants issued are subject to a hold period that expires September 5, 2012.
NXT Announces Closing Of US $1 Million Private Placement Financing
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