Getchell Gold Corp. Announces Warrant Repricing and Extension
Toronto, November 4, 2019 - Getchell Gold Corp. (CSE: GTCH) ("Getchell Gold" or the "Company") announces the Company's intent to reprice and extend the expiry date of an aggregate of 4,601,250 outstanding share purchase warrants expiring on December 31, 2019 and issued pursuant to a financing that closed on December 18, 2017. The warrants will be repriced from US$0.40 to C$0.25 and the expiry date extended to December 31, 2020. All other terms of the warrants will remain unchanged.
The Company intends to seek approval from the warrant holders to reprice the warrants to C$0.25. Repricing of the warrants requires the approval of all warrant holders. Subject to obtaining such approval, the warrant expiry date would be modified by the earlier of:
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If, for any 10 consecutive trading days the closing price of the listed shares exceeds the amended exercise price by the applicable private placement discount, which is C$0.3125, the term of the warrants must also be amended to 30 days. The amended term must be announced by press release and the filing of a Form 13 with the CSE. The 30-day period will commence 7 days from the end of the 10-day period; or
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December 31, 2020.
For further information please visit the Company's website at www.getchellgold.com or contact the Company at +1 303 517 8764.
William Wagener, Chairman & CEO
+1 303 517 8764
info@getchellgold.com
The Canadian Securities Exchange has not reviewed this press release and does not accept responsibility for the adequacy or accuracy of this news release. Not for distribution to U.S. news wire services or dissemination in the United States.
This news release contains certain statements that constitute forward-looking statements as they relate to the Company and its management. Forward-looking statements are not historical facts but represent management's current expectation of future events, and can be identified by words such as "will", "intent" and similar expressions. Although management believes that the expectations represented in such forward-looking statements are reasonable, there can be no assurance that they will prove to be correct.
By their nature, forward-looking statements include assumptions and are subject to inherent risks and uncertainties that could cause actual future results, conditions, actions or events to differ materially from those in the forward-looking statements. If and when forward-looking statements are set out in this new release, the Company will also set out the material risk factors or assumptions used to develop the forward-looking statements. Except as expressly required by applicable securities laws, the Company assumes no obligation to update or revise any forward-looking statements. The future outcomes that relate to forward-looking statements may be influenced by many factors, including, but not limited to: risks of future legal proceedings; regulatory approval of the issuance of securities, and potential dilution.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/49367