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UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940 |
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Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. | |||
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number. | SEC 1474 (9-02) |
1. Title of Derivative Security (Instr. 3) |
2. Conversion or Exercise Price of Derivative Security | 3. Transaction Date (Month/Day/Year) | 3A. Deemed Execution Date, if any (Month/Day/Year) | 4. Transaction Code (Instr. 8) |
5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5) |
6. Date Exercisable and Expiration Date (Month/Day/Year) |
7. Title and Amount of Underlying Securities (Instr. 3 and 4) |
8. Price of Derivative Security (Instr. 5) |
9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) |
10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) |
11. Nature of Indirect Beneficial Ownership (Instr. 4) |
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Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | ||||||||
Options to purchase Common Shares | $ 0.38 (1) | 05/18/2007 | D(2) | 900,000 | (2) | 08/25/2009 | Common Shares | 900,000 | $ 0 | 0 | D | ||||
Options to purchase Common Shares | $ 0.38 (1) | 05/18/2007 | A(2) | 900,000 | 05/18/2007(2) | 08/25/2009 | Common Shares | 900,000 | $ 0 | 900,000 | D | ||||
Options to purchase Common Shares | $ 1.51 (1) | 05/18/2007 | D(2) | 200,000 | (2) | 04/29/2010 | Common Shares | 200,000 | $ 0 | 0 | D | ||||
Options to purchase Common Shares | $ 1.51 (1) | 05/18/2007 | A(2) | 200,000 | 05/18/2007(2) | 04/29/2010 | Common Shares | 200,000 | $ 0 | 200,000 | D | ||||
Options to purchase Common Shares | $ 2.59 (1) | 05/18/2007 | D(2) | 300,000 | (2) | 03/09/2011 | Common Shares | 300,000 | $ 0 | 0 | D | ||||
Options to purchase Common Shares | $ 2.59 (1) | 05/18/2007 | A(2) | 300,000 | 05/18/2007(2) | 03/09/2011 | Common Shares | 300,000 | $ 0 | 300,000 | D | ||||
Options to purchase Common Shares | $ 2.4 (1) | 05/18/2007 | D(2) | 15,000 | (2) | 06/30/2011 | Common Shares | 15,000 | $ 0 | 0 | D | ||||
Options to purchase Common Shares | $ 2.4 (1) | 05/18/2007 | A(2) | 15,000 | 05/18/2007(2) | 06/30/2011 | Common Shares | 15,000 | $ 0 | 15,000 | D |
Reporting Owner Name / Address | Relationships | |||
Director | 10% Owner | Officer | Other | |
Zimmerman Scott J 1125 SEVENTEENTH STREET, SUITE 2310 DENVER, CO 80202 |
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/s/ Richard J. Mattera, by power of attorney | 05/22/2007 | |
**Signature of Reporting Person | Date |
* | If the form is filed by more than one reporting person, see Instruction 4(b)(v). |
** | Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). |
(1) | Exercise price reflects conversion from Canadian dollars to U.S. dollars based on the exchange rate on the date of the original grant. |
(2) | This reported transaction, coupled with the accompanying acquisition or disposition transaction (as the case may be), involved an amendment of outstanding options, resulting in the deemed cancellation of the "old" options and the grant of replacement options. Pursuant to the terms of a Separation and Release Agreement (the "Agreement"), effective May 18, 2007, between the reporting person and the issuer, any stock options held by the reporting person as of the Separation Date, as defined in the Agreement, shall continue to be exercisable until their expiration date. In addition, the Agreement further provides that any stock options held by the reporting person that are not vested as of the Separation date, as defined in the agreement, shall be immediately accelerated as of the effective date of the Agreement. |