Neo Lithium Announces Acceleration of Expiry Date of OutstanNeo Lithium Announces Acceleration of Expiry Date of Outstanding Warrants for Proceeds of up to C$15.6M
Read more at https://www.stockhouse.com/news/press-releases/2017/10/31/neo-lithium-announces-acceleration-of-expiry-date-of-outstanding-warrants-for#PaYWlTyKKAximsCy.99
Link Neo Lithium Announces Acceleration of Expiry Date of Outstanding Warrants for Proceeds of up to C$15.6M TORONTO, ON --(Marketwired - October 31, 2017) - Neo Lithium Corp. ("
Neo Lithium" or the "
Company") (TSX VENTURE: NLC) (OTCQX: NTTHF) is pleased to confirm that the Company has elected to accelerate the expiry date of 11,175,910 outstanding warrants (the "
Warrants") issued in its private placement of units completed on February 22, 2017. Each Warrant may be exercised to acquire one common share of Neo Lithium (a "
Common Share") at an exercise price of $1.40 (the "
Exercise Price"), for gross proceeds to Neo Lithium of up to C$15.6 million if all Warrants are exercised. As at October 27, 2017 190,000 warrants have been exercised for gross proceeds to Neo Lithium of C$266,000.
Under the terms of the Warrants, Neo Lithium is permitted to accelerate the expiry date of the Warrants if the Common Shares trade on the TSX Venture Exchange at a closing price greater than or equal to the Exercise Price for a period of 20 consecutive trading days (the "
Acceleration Event"). Neo Lithium is pleased to confirm that an Acceleration Event occurred as of October 27, 2017. Accordingly, Neo Lithium has chosen to accelerate the expiry time of the Warrants to 5 p.m. (Toronto time) on
November 30, 2017 (the "
Accelerated Expiry").
Notice of the Accelerated Expiry will be given to the warrant agent and all registered holders of Warrants effective today, in accordance with the terms of the warrant indenture.
Read more at https://www.stockhouse.com/news/press-releases/2017/10/31/neo-lithium-announces-acceleration-of-expiry-date-of-outstanding-warrants-for#PaYWlTyKKAximsCy.99