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Ceylon Graphite Announces Proposed Amendment of Convertible Debentures and Warrants
VANCOUVER, British Columbia, Nov. 09, 2021 (GLOBE NEWSWIRE) -- Ceylon Graphite Corp. (“Ceylon”) (TSX-V: CYL) (OTC:CYLYF) (FSE: CCY) would like to announce that
About this update from Ceylon Graphite Corp.
[{"type":"text","content":" VANCOUVER, British Columbia, Nov. 09, 2021 (GLOBE NEWSWIRE) -- Ceylon Graphite Corp. (“Ceylon”) (TSX-V: CYL) (OTC:CYLYF) (FSE: CCY) would like to announce that the Company intends to amend certain terms of the convertible debenture that were issued by the Company on May 23, 2018 (the “Convertible Debentures”). Ceylon Graphite proposes to amend the Convertible Debentures by extending the maturity date of the Convertible Debentures by one (1) year from November 23, 2021 to November 23, 2022. In consideration for the holders of the Convertible Debentures agreeing to the proposed amendments, the Company is proposing to extend the expiry date of the common share purchase warrants (the “Warrants”) issued on May 23, 2018 by one (1) year from November 23, 2021 to November 23, 2022. The proposed amendments are subject to the approval of the holders of the Convertible Debentures as well as the TSX Venture Exchange. All other terms and conditions of the Convertible Debentures and Warrants will remain unchanged. About Ceylon Graphite Corp. Ceylon Graphite is a public company listed on the TSX Venture Exchange, that is in the business of mining for graphite, and developing and commercializing innovative graphene and graphite applications and products. Graphite mined in Sri Lanka is known to be some of the purest in the world and has been confirmed to be suitable to be easily upgradable for a range of applications including the high-growth electric vehicle and battery storage markets as well as construction, healthcare and paints and coatings sectors. The Government of Sri Lanka has granted the Company’s wholly owned subsidiary Sarcon Development (Pvt) Ltd. an IML Category A license for its K1 mine and exploration rights in a land package of over 120km². These exploration grids (each one square kilometer in area) cover areas of historic graphite production from the early twentieth century and represent a majority of the known graphite occurrences in Sri Lanka. Further information regarding the Company is available at www.ceylongraphite.com. Don Baxter, Chief Executive Officer [email protected] Communications+1(604) 765 8657 Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release FORWAR...