GREY:CLRYF - Post by User
Post by
railbirdon Sep 11, 2017 6:14pm
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Post# 26682187
Just a Reminder
Just a Reminder Canada NewsWire
CALGARY, Aug. 14, 2017
CALGARY, Aug. 14, 2017 /CNW/ - Clarocity Corporation (TSXV:CLY; OTCQB:CLRYF) (the "Company" or "Clarocity") today announced that it proposes to amend the terms of 52,757,045 warrants outstanding pursuant to two warrant indentures each dated December 11, 2014 to reduce the exercise price to $0.132, being the average closing price for the ten trading days immediately prior to this news release; reduce the exercise period to thirty (30) days from the date of approvals; add accelerated expiry if for any ten consecutive trading days the closing price exceeds 125% of the exercise price; add the right of warrantholders to put the warrants back to Clarocity in consideration of a payment $0.0125, payable in cash, or at the option of the Corporation, common shares of the Corporation; and provide for automatic exercise of the put immediately prior to expiry, without further action by warrantholders. Clarocity is calling meetings of warrantholders to be held September 12, 2017 to consider and approve the proposed amendments. Amendment of the warrant terms is subject to TSX Venture Exchange acceptance