Acceleration of Warrants; time to move up again. Vernon, British Columbia--(Newsfile Corp. - March 15, 2019) - True Leaf Medicine International Ltd. (CSE: MJ) (OTCQX: TRLFF) (FSE: TLA) ("True Leaf" or the "Company"), a leading global cannabis and hemp wellness brand for pets, announced today that market conditions have triggered the acceleration of the expiry of the following share purchase warrants of the Company (the "Warrants"):
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871,795 warrants issued May 29, 2017 with an amended exercise price of $0.355 per common share
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1,861,432 warrants issued June 12, 2017 with an amended exercise price of $0.355 per common share
Under the terms of the Warrants, if for any 10 consecutive trading days the closing price of the Company's common shares on the Canadian Securities Exchange exceeds $0.44375, then the term of the Warrants will be reduced to 30 days commencing seven days from the end of such 10 consecutive trading day period. On March 14, 2019, the closing price of the common shares exceeded $0.44375 for 10 consecutive trading days. Accordingly, the expiry date for the Warrants is now April 21, 2019. Any Warrants unexercised as of the new expiry date will be void and of no effect whatsoever.
The Company's warrants issued on May 29, 2017 and June 12, 2017 with an exercise price of $0.45 per common share that are not subject to the recent repricing (warrantholders who did not elect to sign the Warrant Amending Agreement) will not be affected by the accelerated expiry date.