Galahad Metals warrant extension, repricingGalahad Metals warrant extension, repricing
2009-01-06 16:27 ET - Miscellaneous
The TSX Venture Exchange has consented to certain warrant amendments to previously accepted private placement as described below.
Amendment No. 1
Pursuant to the TSX-V bulletin dated Jan. 8, 2008:
Number of warrants: One million
Original expiry date of warrants: Dec. 21, 2009
New expiry date of warrants: Dec. 21, 2012
Forced exercise provision: If the closing price for the company's shares is 25 cents or greater for a period of 10 consecutive trading days, then the warrantholders will have 30 days to exercise their warrants; otherwise, the warrants will expire on the 31st day. The 30-day period will commence seven calendar days after the 10th premium trading day.
Original exercise price of warrants: $2 until Dec. 21, 2009
New exercise price of warrants: 20 cents until Dec. 21, 2012
These warrants were issued pursuant to a private placement of 10 million common shares, with 10 million share purchase warrants attached (preconsolidation). For further information, please refer to the company's news release dated Dec. 24, 2007.