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Capitan Silver Announces Revision of Warrant Terms in Respect of Its Previously Announced Offering
Vancouver, British Columbia--(Newsfile Corp. - February 10, 2025) - CAPITAN SILVER CORP. (TSXV: ...
About this update from Capitan Silver Corp
[{"type":"text","content":"Capitan Silver Announces Revision of Warrant Terms in Respect of Its Previously Announced OfferingVancouver, British Columbia--(Newsfile Corp. - February 10, 2025) - CAPITAN SILVER CORP. (TSXV: CAPT) (\"Capitan\" or \"the Company\") would like to announce a revision to the warrant Acceleration Right in respect of its previously announced private placement financing of up to 13,250,000 units (\"Units\") at a price of C$0.40 per Unit (the \"Offering Price\"), for aggregate gross proceeds of up to C$5,300,000 (the \"Offering\") (see press releases dated January 21, 2025 and February 5, 2025).Revised Terms of the OfferingEach Unit shall be comprised of one common share in the Company (a \"Share\") and one common share purchase warrant (a \"Warrant\"). Each Warrant will be exercisable for one Share (a \"Warrant Share\") for a period of 12 months from the closing date of the Offering (the \"Exercise Period\") at an exercise price of C$0.50 per Warrant Share, subject to the Company's Acceleration Right (as defined below). During the Exercise Period, the Company shall have the right (the \"Acceleration Right\"), exercisable in its sole discretion by way of providing written notice (the \"Acceleration Notice\") to holders of Warrants, to accelerate the expiry of the Warrants to a date (the \"Accelerated Expiry Date\") which is 30 calendar days following the date of the Acceleration Notice. In order for the Company to exercise the Acceleration Right: (i) the closing price of the Company's Shares on the TSX Venture Exchange on the trading day immediately prior to the date of the Acceleration Notice must be greater than C$0.50; and (ii) any Acceleration Notice shall be delivered to holders of Warrants no earlier than the day immediately after the trading day immediately following the date of a public announcement of a significant property acquisition, as determined by the Company in its sole discretion. If the Company exercises its Acceleration Right, holders of Warrants shall be required to exercise or cause the exercise of all unexercised Warrants held by such holders and pay the aggregate exercise price in respect of such Warrants to the Company prior to the Accelerated Expiry Date. In the event of a failure of a holder to exercise Warrants following the exercise by the Company of the Acceleration Right, the Warrants will terminate on th...