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CYMAT REPRICES WARRANTS AND ANNOUNCES WARRANT EXERCISE INCENTIVE PROGRAM
CYMAT REPRICES WARRANTS AND ANNOUNCES WARRANT EXERCISE INCENTIVE PROGRAM Canada NewsWir...
About this update from Cymat Technologies Ltd
[{"type":"text","content":"\n \n \n \n CYMAT REPRICES WARRANTS AND ANNOUNCES WARRANT EXERCISE INCENTIVE PROGRAM\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 \n MISSISSAUGA, ON\n \n \n ,\n \n \n March 7, 2023\n \n \n /CNW/ - Cymat Technologies Ltd. (TSXV: CYM) (OTCQB: CYMHF) (the \"\n \n Company\n \n \" or \"\n \n Cymat\n \n \") is pleased to announce that it intends to reprice outstanding warrants and initiate a warrant exercise incentive program.\n \n \n \n \n \n \n \n \n \n The Company intends to reprice an aggregate of 3,859,862 outstanding common share purchase warrants (\"\n \n Warrants\n \n \") issued pursuant to its\n \n May 5, 2021\n \n private placement. The Warrants have an exercise price of\n \n $0.90\n \n and an expiry date of\n \n May 5, 2023\n \n . Management believes repricing these \"out of the money\" Warrants could encourage their earlier exercise, improving the Company's balance sheet and helping to finance a number of business development opportunities in the automotive and military sectors. The Warrants will be deemed to be amended to adjust their exercise price to\n \n $0.45\n \n per share (the \"\n \n Amended Warrants\n \n \").\n \n \n The Amended Warrants will also be deemed to have been amended to include an acceleration provision whereby, if for any ten (10) consecutive trading days (the \"\n \n Premium Trading Days\n \n \") following the repricing  the closing price of the Company's common shares (\"\n \n Common Shares\n \n \") exceeds\n \n $0.5625\n \n , the Amended Warrants' expiry date will be accelerated  such that holders will have thirty (30) calendar days to exercise the Amended Warrants (if they have not first expired in the normal course)(the \"\n \n Acceleration Clause\n \n \"). The activation of the Acceleration Clause will be announced by press release and the 30-day period will commence seven (7) days after the last Premium Trading Day.\n \n \n The amendment of the Warrants is subject to the prior consent of all Warrant holders and the approval and the approval of TSX Venture Exchange (the \"\n \...