Warrant news-another Recaf head scratcherYesterday I purchased Recaf 2024 warrants at .86 per. This seems to contradict what they put out previously but I see this as much more favourable.
Per a previous Recaf release:
"
ReconAfrica is also pleased to announce that, subject to receipt of required acceptance from the TSXV, the Company will extend the expiry of a total of 7,475,000 outstanding common share purchase warrants (the "Warrants"). The Warrants were issued pursuant to a public offering which closed on March 1, 2022, pursuant to which the Company issued 7,475,000 units of the Company (each, a "Unit") at a price of C$6.35 per Unit. Each Unit consisted of one common share of the Company (a "Share") and one Warrant, with each Warrant entitling the holder thereof to purchase one additional Share until October 31, 2022, subject to acceleration in certain events, at an exercise price of C$9.00. The Warrants may be subject to acceleration of the expiry date to a date that is 30 calendar days following notice to be provided to the holders of the Warrants by the Company in the event that the moving volume weighted average trading price of the Shares on the TSXV over any period of 20 consecutive trading days equals or exceeds C$14.00.
The term of the Warrants will be amended to extend the expiry date of the Warrants by five months from October 31, 2022, to March 31, 2023. All other terms and conditions of the Warrants will remain unchanged."