RE:March 29th & April 5Th 2022.... They accelerated the expiry if those warrents.
TORONTO, CANADA, July 30, 2020 – Black Iron Inc. (“Black Iron” or the “Company”) (TSX: BKI) announces that it has elected to accelerate the expiry date of the common share purchase warrants dated March 29, 2019 and April 5, 2019 (collectively, the “Warrants”).
The Warrants were issued in connection with a private placement of units, with each share purchase warrant being exercisable into one additional common share of the Company at a price of $0.09 per share until March 29, 2022 and April 5, 2022, as applicable.
The Warrants are subject to the right of the Company to accelerate the expiry date of the Warrants if the Company’s common shares close at or above $0.15 per share for more than 10 consecutive trading days on the Toronto Stock Exchange (the “Acceleration Event”). The Company is entitled to accelerate the expiry of the Warrants to that date that is 30 business days from the date of issuance of a news release announcing the exercise of the acceleration right.
This press release constitutes notice to the holders of Warrants that the Acceleration Event has occurred and the Company has elected to accelerate the expiry date of the Warrants in accordance with the terms of the certificates representing the Warrants to the date that is thirty (30) days after the date hereof, being August 31, 2020. This notice only affects the Warrants dated March 29, 2019 and April 5, 2019 and not any other warrants the Company has issued.
In order to exercise your Warrants, you are required to complete and submit the Notice of Exercise attached to your respective Warrant certificate on or before 5:00 pm on August 31, 2020. For detailed exercise requirements, please refer to your Warrant Certificate.