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Reduction of Exercise Price of Warrants Expiring June 21 and 29, 2018
Reduction of Exercise Price of Warrants Expiring June 21 and 29, 2018 Canada NewsW...
About this update from Canasil Resources Inc.
[{"type":"text","content":"\n\n\n\nReduction of Exercise Price of Warrants Expiring June 21 and 29, 2018\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\n\nCanada NewsWire\nVANCOUVER, Feb. 23, 2018\n\n\n\n/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES./\n\nTSX-V: CLZ  www.canasil.com \n\n\n\nVANCOUVER, Feb. 23, 2018 /CNW/ - Canasil Resources Inc. (\"Canasil\", TSX-V: CLZ, DB Frankfurt: 3CC) announces that the Company has applied to the TSX Venture Exchange to reduce the exercise price of warrants (\"original warrants\") expiring on June 21 and 29, 2018, from $0.50 to $0.16 as an incentive for exercise over a limited period until March 23, 2018. Any warrants exercised will receive one common share of the Company and one non-transferable replacement share purchase warrant (\"replacement warrant\"). Each replacement warrant will entitle the holder to purchase one common share of the Company at a price of $0.25 until February 28, 2020. If the closing price of the Company's shares exceeds $0.33 per share for a period of 10 consecutive trading days (the \"Premium Trading Days\"), the replacement warrants will be subject to an accelerated expiry date of 30 days, such 30 day period to commence within seven calendar days after the tenth Premium Trading Day.  The price and expiry date of any original warrants which are not exercised under the above terms will remain unchanged.\n\nThe original warrants were issued in connection with a private placement of 8,000,000 Units at $0.32 which closed on June 21 and 29, 2016. Each unit consisted of one common share of the Company and one-half of one non-transferable share purchase warrant. Each whole warrant entitled the purchase of one common share of the Company at a price of $0.50 within two years with original expiry dates of June 21 and 29, 2018. The amended incentive warrant exercise price and terms are subject to acceptance by the TSX Venture Exchange.\n\nAbout Canasil:\n\nCanasil is a Canadian mineral exploration company with a strong portfolio of 100% owned sil...