NEWS:VERT Extends Warrants and will move from NEX to VENTURE Great News!!! Extending warrants will allow additional money to come into the company over the year up to $1.2 million on top of the current financing of $1.5 million. We will be very well financed and will have plenty of left over cash!
Quarry Licence + equipment ($500,000)
Marketing ($ available to promote)
Drilling ($ available to expand resource "Inferred to Indicated")
Exciting times for VERT!
Vertical receives conditional OK for warrant extension
2018-09-20 12:43 ET - News Release
Mr. Peter Swistak reports
VERTICAL EXPLORATION RECEIVES CONDITIONAL APPROVAL FOR WARRANT EXTENSION AND GRADUATION
Vertical Exploration Inc. has received conditional approval to extend the exercise period of 16.05 million of its outstanding share purchase warrants.
The 16.05 million outstanding warrants are exerciseable at 7.5 cents per share and are currently due to expire on Sept. 25, 2018. The TSX Venture Exchange has provided its conditional approval for the extension of such expiry date. The extension is conditional upon the company successfully completing its graduation from the NEX to Tier 2 of the TSX-V.
In the interim period between Sept. 26, 2018, and the company's successful graduation from the NEX to Tier 2 of the TSX-V, the warrants will remain outstanding, but will not be exerciseable. Upon such graduation, the expiry period will automatically extend to Sept. 25, 2019, and the warrants will be exerciseable until such date.
The company has received conditional approval of its graduation from the NEX to Tier 2 of the TSX-V. Graduation is conditional upon the company completing the private placement financing announced on Sept. 7, 2018.
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