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Bullboard - Stock Discussion Forum Black Iron Inc T.BKI

Alternate Symbol(s):  BKIRF

Black Iron Inc. is a Canada-based iron ore exploration and development company, advancing its 100% owned Shymanivske Iron Ore Project located in Kryviy Rih, Ukraine. The Shymanivske project is surrounded by five operating iron ore mines, including various owned by Metinvest and ArcelorMittal’s iron ore complex. The Property is situated in the Kryvyi Rih iron ore basin, located in the... see more

TSX:BKI - Post Discussion

Black Iron Inc > Acceleration of Expiry Date and Corporate Update
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Post by DragonOilGuy on Jul 30, 2020 5:56pm

Acceleration of Expiry Date and Corporate Update

Search Companies, etc News Press Releases Notice to Warrantholders of Acceleration of Expiry Date and Corporate Update 1 hour ago TORONTO, CANADA / ACCESSWIRE / July 30, 2020 / Black Iron Inc. ("Black Iron" or the "Company") (TSX:BKI) announces that it has elected to accelerate the expiry date of the common share purchase warrants dated March 29, 2019 and April 5, 2019 (collectively, the "Warrants"). The Warrants were issued in connection with a private placement of units, with each share purchase warrant being exercisable into one additional common share of the Company at a price of $0.09 per share until March 29, 2022 and April 5, 2022, as applicable. The Warrants are subject to the right of the Company to accelerate the expiry date of the Warrants if the Company's common shares close at or above $0.15 per share for more than 10 consecutive trading days on the Toronto Stock Exchange (the "Acceleration Event"). The Company is entitled to accelerate the expiry of the Warrants to that date that is 30 business days from the date of issuance of a news release announcing the exercise of the acceleration right. This press release constitutes notice to the holders of Warrants that the Acceleration Event has occurred and the Company has elected to accelerate the expiry date of the Warrants in accordance with the terms of the certificates representing the Warrants to the date that is thirty (30) days after the date hereof, being August 31, 2020. This notice only affects the Warrants dated March 29, 2019 and April 5, 2019 and not any other warrants the Company has issued. In order to exercise your Warrants, you are required to complete and submit the Notice of Exercise attached to your respective Warrant certificate on or before 5:00 pm on August 31, 2020. For detailed exercise requirements, please refer to your Warrant Certificate. Corporate Update Black Iron's management have recently initiated discussions with institutional investors on a royalty that could contribute materially to the funding required for project construction and are receiving strong interest. Negotiation of a Heads of Agreement on the commercial terms to be included in a binding contract for a high potential ~US$60 million investment in exchange for being awarded the construction contract for the Shymanivske project have concluded positively with one company and are well advanced with a second. Further details on this will be disclosed in due course noting that a binding contract would only be entered into with only one of these two companies, should the parties reach an agreement, who will then lead the future planned construction of the project. Black Iron's management congratulates Ukraine's government and the Organisation for Economic Co-operation and Development (OECD) in reaching a ceasefire agreement between government forces and pro-Russian separatists in Eastern Ukraine that came into effect this past Monday, July 23. This is positive for Black Iron shareholders as it further broadens the base of investors who will be interested to invest in project construction and in the market. Although management of Black Iron felt the political risk to the Company due to the conflict between Russia and Ukraine was very low as the front line hadn't moved in over 6 years, this ceasefire agreement should help alleviate any concern investors may have had.
Comment by Zynder on Jul 30, 2020 6:07pm
This is very positive. Let’s see what happens to the share price tomorrow. I have no clue as to what could happen. Z
Comment by fullyblown1 on Jul 30, 2020 7:32pm
I looked at quite a few other companies that did similar accelerations of expiry. Didnt see any that appeared to change much in price after the announcement. Maybe itll be different here
Comment by brianwells1 on Jul 30, 2020 6:50pm
That's what I'm talking about baby! Nice find
Comment by wallywagon on Jul 30, 2020 6:56pm
Again smoke and mirrors. Nothing done yet. Acceleration of expiry doesnt matter. They are in the green already a double. BKI full of pennies. They don;t think dollars and thats why we are still here at this share price and not over $1. Get The Deals Done MATT!!! WTF
Comment by fullyblown1 on Jul 30, 2020 7:34pm
I agree with this, get something set in stone and this stock will be on fire. I believe there is a large amount of investors waiting to jump in but they have to see the proof first. Matt needs to start communicating more as well
Comment by brianwells1 on Jul 30, 2020 7:38pm
Yes I agree with most here but there's going to be less cheap shares to buy on the market now. Good news either way
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