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Coelacanth Energy Inc. Announces Extension of Common Share Purchase Warrants
Calgary, Alberta--(Newsfile Corp. - June 29, 2022) - Coelacanth Energy Inc. (TSXV: CEI) (" C...
About this update from Coelacanth Energy, Inc.
[{"type":"text","content":"Coelacanth Energy Inc. Announces Extension of Common Share Purchase WarrantsCalgary, Alberta--(Newsfile Corp. - June 29, 2022) - Coelacanth Energy Inc. (TSXV: CEI) (\"Coelacanth\" or the \"Company\") is pleased to announce that the Company is extending the expiry date of the unlisted common share purchase warrants (\"Arrangement Warrants\") originally issued pursuant to a warrant indenture dated May 31, 2022 (the \"Issuance Date\") between the Company and Computershare Trust Company of Canada (\"Computershare\") and in connection with the completion of the plan of arrangement involving the Company, Leucrotta Exploration Inc. (\"Leucrotta\"), Vermilion Energy Inc. and the securityholders of Leucrotta (the \"Transaction\"), in order to allow registered holders residing in the United States additional time to exercise their Arrangement Warrants.The Arrangement Warrants, originally set to expire on June 30, 2022, will now expire at 5:00 p.m. (Calgary time) on August 2, 2022, which is the first business day following the 60 calendar days following the Issuance Date. All registered holders of Arrangement Warrants in the United States are entitled to exercise their Arrangement Warrants provided they duly complete the exercise form and U.S. Purchaser's Letter enclosed in their Arrangement Warrant certificate. Holders of the Arrangement Warrants will not receive an amended Arrangement Warrant certificate.Parties who are considered \"related parties\" of the Company hold a portion of the Arrangement Warrants. The amendment of the Arrangement Warrants therefore constitutes a \"related party transaction\" as contemplated by Multilateral Instrument 61-101 Protection of Minority Shareholders in Special Transactions (\"MI 61-101\") and by TSX Venture Exchange Policy 5.9 - Protection of Minority Shareholders in Special Transactions. However, the Company is relying on the exemptions from formal valuation and minority approval requirements provided for under sections 5.5(a) and 5.7(1)(a) of MI 61-101 as the fair market value of the Arrangement Warrants does not exceed 25% of the market capitalization of the Company.For more information on exercise of Arrangement Warrants, holders may contact the Computershare at:Computershare Trust Company of Canada800, 324 - 8th Avenue SWCalgary, Alberta T2P 2Z2Attention: Manager, Corporate Trustcorporatetrust.c...