Amorfix accelerates warrant expiryTORONTO, Oct. 19 /CNW/ -Amorfix Life Sciences, a company focused on treatments and diagnosticsfor misfolded protein diseases, announced today it will be acceleratingthe expiry of the warrants ("Warrants"), including the finders'warrants, that were issued on April 29, 2009 in connection with the closing of a private placement.
In accordance with the provisions of the Warrants, Amorfix mayshorten the expiry date of the Warrants if the volume-weighted averageprice of the common shares is $1.20 per share or higherover a period of ten consecutive trading days provided that it givesnotice of same in writing to the holders and the accelerated expirydate is a date which is not less than 30 calendar days after suchnotice is sent to the holders. The trigger for acceleration of theexpiry date was met on October 5, 2009 and Amorfixreports that it will be sending out notices to the holders of theWarrants advising them that the new expiry date shall be January 19, 2010.
If all of the remaining 2,597,795 warrants outstanding that aresubject to this accelerated expiry are exercised, Amorfix will receive $2,524,189of additional proceeds. Any warrants not exercised prior to theaccelerated expiry date will expire without any further action beingtaken.