RE:Exciting News did nothing for share price
Difficult to say how the market will react when awarded BTD. Personally I think we'll get BTD and AA given the excellent CRs to date. bwdik. After these 57 million warrants expire in 10 days or so there will still be 34 million warrants outstanding with exercise prices of 25 and 35 cents. What if BTD doesn't move the needle much and the stock price only moves to 30 cents, or a bit more. Probably not enough to induce exercise of the warrants early yet the company still needs cash. And the announcement of another stock offering would probably drop the stock price. Or we get lucky and the stock price explods upwards bringing in the warrant money.
There's a possibility the company could initiate a warrant incentive program like First Nordic Metals Corp did back in July. Subject to TSXV approval. There's that word APPROVAL.
First Nordic Metals Corp. (the “Company” or “First Nordic”) (TSXV: FNM) (OTCQB: FNMCF) (FRA: HEG0) announces that subject to acceptance by the TSX Venture Exchange (the “TSXV“), the Company intends to amend the exercise price of an aggregate of 3,161,558 outstanding common share purchase warrants of the Company that were issued as part of a private placement that closed on August 23, 2022 (the “Warrants“), and to announce a warrant exercise incentive program (the “Incentive Program”) on these Warrants.
The Warrants have a current exercise price of $0.45 and the Company intends to amend the exercise price to $0.36 following receipt of TSXV acceptance of the proposed repricing of the Warrants. All other terms of the Warrants will remain the same, including the expiry date of August 23, 2024.
glta