Origin Gold Announces Acceleration of Warrant Expiry Dates
TORONTO, Aug. 04, 2020 - Origin Gold Corp. (“Origin Gold” or the “Company”) (TSXV: OIC) announces that today its share price has closed at $0.30, after closing at or above $0.1875 for the previous 9 consecutive trading days. In accordance with the terms of the TSXV Venture Exchange’s (“TSXV”) warrant repricing policies, this has triggered an automatic expiry acceleration clause (the “Clause”) in respect of certain of the Company’s common share purchase warrants.
The terms of the 2,392,000 common share purchase warrants of the Company that are affected by the Clause (collectively, the “Expiring Warrants”) were amended in mid-2019 to reduce the exercise price from $0.25 to $0.15 per share and to extend the expiry date from August 25, 2019 to February 25, 2021 (the “Amended Terms”). For additional information concerning the Amended Terms, please see the Company’s press release dated May 28, 2019, which is available under the Company’s SEDAR profile at www.sedar.com. The TSXV consented to the Amended Terms on May 29, 2019.
As a result of the Clause, the expiry date of the Expiring Warrants has been accelerated to a date that falls 30 days following the date of this news release, or September 3, 2020. Any Expiring Warrants that remain unexercised by 5:00 p.m. (Eastern time) on such date will expire and be cancelled.
The acceleration of the expiry date of the Expiring Warrants is mandated by the TSXV, is not at the discretion of the Company, and is a TSXV policy consistent with the benefit received by the warrant holders relating to the Amended Terms.
About Origin Gold
Origin Gold is a mineral exploration company with its exploration activities focused in Colombia.
For additional information, please contact:
Jaime Lalinde
President and CEO
jlalinde@fmresources.ca
www.origingoldcorp.com
Cautionary Note Regarding Forward-looking Information
This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements with respect to the acceleration of the expiry date of the Expiring Warrants. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company, as the case may be, to be materially different from those expressed or implied by such forward-looking information. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN POLICIES OF THE TSX VENTURE EXCHANGE) HAS REVIEWED OR ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.