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Clean Air Metals Issues Warrants to First Nation Partners under a Memorandum of Agreement
Clean Air Metals Issues Warrants to First Nation Partners under a Memorandum of Agreement...
About this update from Clean Air Metals, Inc.
[{"type":"text","content":"\n \n \n \n Clean Air Metals Issues Warrants to First Nation Partners under a Memorandum of Agreement\n \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 \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n Thunder Bay, ON\n \n ,\n \n Jan. 28, 2021\n \n /CNW/ - Clean Air Metals Inc. (\"\n \n Clean Air Metals\n \n \" or the \"\n \n Company\n \n \") (TSXV: AIR) (FRA: CKU) (OTCQB: CLRMF) announces the issuance of an aggregate of 3,000,000 common share purchase warrants (the \"\n \n Warrants\n \n \") to Fort William First Nation, Red Rock Indian Band and the Biinjitiwaabik Zaaging Anishinaabek (collectively, the \"\n \n Participating First Nations\n \n \"). The issuance of the Warrants was under the terms of a Memorandum of Agreement between the Company and the Participating First nations effective as of\n \n January 8, 2021\n \n (the \"\n \n Memorandum of Agreement\n \n \"). The Warrants are being issued as part of the consideration for the Participating First Nations working with the Company on the design, approval and development of the exploration project, the Thunder Bay North Project, and as part of the Company's accommodation of the Participating First Nations' interests and rights related to the exploration project. The Warrants were delivered on\n \n January 26, 2021\n \n and are subject to a four-month holding period, expiring on\n \n May 27, 2021\n \n .\n \n \n The Company has issued 1,000,000 Warrants to each Participating First Nation. Each Warrant entitles the holder to purchase one common share of the Company (each, a \"\n \n Common Share\n \n \") at an exercise price of\n \n $0.40\n \n per Common Share until\n \n January 8, 2026\n \n . The exercise price of the Warrant is equal to the closing market price of the Company's listed shares on the date immediately preceding the date the Memorandum of Agreement was announced, being\n \n January 8, 2021\n \n . The Warrants and the Common Shares issuable under the Warrants are subject to a statutory hold period under applicable Canadian securities laws that expires four months and one day from the issue date of the Warrants...