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SRG Graphite Inc. Announces Amendments to Warrant Indenture
MONTREAL, May 15, 2019 /CNW Telbec/ - SRG Graphite Inc. (TSXV: SRG) ("SRG" or the "Company) is pleased to announce that it has filed an application with the TSX
About this update from Falcon Energy Materials Plc
[{"type":"text","content":" MONTREAL, May 15, 2019 /CNW Telbec/ - SRG Graphite Inc. (TSXV: SRG) (\"SRG\" or the \"Company) is pleased to announce that it has filed an application with the TSX-Venture Exchange (\"TSXV\") of its intention to re-price and extend the expiry date of the Warrant Indenture dated May 18, 2018 made between the Company and Computershare Trust Company of Canada (the \"Warrant Agent\"). These adjustments have been incorporated into the terms of a Supplemental Warrant Indenture dated May 15, 2019 and will become effective May 17, 2019 between the Company and the Warrant Agent amending the Warrant Indenture. A total of 6,134,100 share purchase warrants (the \"Warrant\") were issued by the Company under the Warrant Indenture pursuant to a Prospectus offering announced on May 1, 2018. Each Warrant entitled the holder to purchase one common share of the Company at the price of $2.30 per common share and are scheduled to expire on May 18, 2019. The term will be extended to 4:00 p.m. (Montreal time) on March 30, 2020. The exercise price of the Warrants will be amended to $1.20. (the \"Amended Warrant\"). The Amended Warrants will be subject to an accelerated expiry date which will be reduced to 30 days, if, for any ten consecutive trading days during the unexpired term of the Amended Warrant (the \"Premium Trading Days\"), the closing price of the Company's shares is $1.44, and for more certainty, the reduced exercise period of 30 days will begin no more than 7 calendar days after the tenth Premium Trading Day. All other terms of the Warrant Indenture will remain unchanged. None of the Warrants are held by insiders of the Company and under the terms of the Warrant Indenture, the Company and Warrant Agent, without the consent of the holders of the Warrants, may amend or supplement the Warrant Indenture. All Warrants issued under the Warrant Indenture remain unexercised. As required by the TSX Venture Exchange policies, an aggregate of 368,046 Brokers Warrants have not been amended and will be subject to their original terms, including an expiry date of May 18, 2019. A notice of the Supplemental Indenture will be mailed to Warrantholders. Concurrent with the issuance of the Warrants pursuant to the Warrant Indenture, 1,333,333 warrants were issued by the Company pursuant to the closing of an equity offe...