Warrant Repricing and Extension
The Company has extended the expiry date of 2,610,150 Warrants granted on
In addition, the Company has repriced a total of 2,471,165 warrants including a total of 261,015 granted to insiders. Pursuant to TSX V policies, a total of 138,985 warrants granted to insiders will be extended until
The Warrants that have been repriced have been revised to include an acceleration clause such that the term of the Warrants will be reduced to 30 days (the 'Reduced Term') in the event the closing price of the Common Shares on the
Insiders hold a total of 400,000 Warrants. The Company has relied on exemptions from the formal valuation and minority shareholder approval requirements of MI 61-101 contained in Sections 5.5(a) and 5.7(1)(a) of MI 61-101 as the fair market value of the subject matter of the Private Placement does not exceed 25% of the market capitalization of the Company as calculated in accordance with MI 61-101. The Company does not intend to file a material change report in respect of the extension.
About
Recent articles suggest that the international Jade market is now larger than the better known worldwide market for rough diamonds, without any participation in the space by publicly listed Companies prior to the formation of
Jade leader is leveraging this unique combination of mineral exploration expertise and Jade carving knowledge to build a portfolio of 6 Jade exploration properties on which Nephrite Jade with various characteristics has now been identified in stable, mining-friendly jurisdictions in the
Contact:
Email: info@jadeleader.ca
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