The article seems to be in $CA and the reel news in US$ and Singapore dollar.
1 Singapore dollar = 0.93$CA
1 US$ = 1.26$CA
13 230 000 $CA paid in shares
1 260 000 $CA paid in shares and conditional (meets or exceeds a pre-determined revenue target)
2 359 752 $CA paid in shares
1 571 098 $CA paid cash
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18 420 850 $CA
The DenseLight shareholders will be issued at the Closing, a number of shares of common stock (the "POET Shares") representing ten and one-half million dollars (U.S.) ($10,500,000) in value based on a deemed price for such POET Shares of the U.S. equivalent of one Canadian dollar (CDN$1). In addition, additional POET Shares representing one million dollars (U.S.) ($1,000,000) based on the same equivalent share price will be issued to the DenseLight shareholders in the event that DenseLight meets or exceeds a pre-determined revenue target during calendar 2016.
All salaries, fees or debts of any kind owing by DenseLight to management shareholders and accrued or incurred prior to 2016, and past due obligations owed to current and past DenseLight employees, will be surrendered and cancelled at the Closing. In return, it is anticipated that, on an operational basis, the current and past employees will receive POET shares and cash on a settled basis. The sum total of POET Shares issued to cover debt will be the equivalent of about (S) $ 2,537,368 in addition to about (S) $1,689,353 in cash to be paid over a 9 month period. At the time of the closing of the transaction ("Closing"), DenseLight shall have no outstanding indebtedness on its balance sheet.
