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FenixOro Gold Corp Announces Acceleration Of Remaining $0.155 Warrants
Toronto, Ontario--(Newsfile Corp. - June 4, 2020) - FenixOro Gold Corp. (CSE: FENX) (formerly, American Battery Metals Corp.) ("FenixOro" or the "Company" or "w
About this update from Fenixoro Gold Corp.
[{"type":"text","content":" Toronto, Ontario--(Newsfile Corp. - June 4, 2020) - FenixOro Gold Corp. (CSE: FENX) (formerly, American Battery Metals Corp.) (\"FenixOro\" or the \"Company\" or \"we\" or \"us\" or \"our\") announces today that the Company's outstanding common share purchase warrants (\"Warrants\"), issued on March 4, 2019, and June 14, 2019, are subject to accelerated expiration. As of the close of markets on Wednesday, June 3, 2020, the closing trading price of the common shares (\"Common Shares\") on the Canadian Securities Exchange (\"CSE\") exceeded $0.205 per Common Share for more than 10 consecutive trading days, triggering the acceleration. Accordingly, the new expiry date for the Warrants originally scheduled to expire September 4, 2020 has now been accelerated to July 10, 2020. From and after 5:00 p.m. (Toronto time) on July 10, 2020, no Warrants may be exercised and all unexercised Warrants will be void and of no effect. Warrant holders who wish to exercise their Warrants should ensure that they allow sufficient time for delivery of their Warrants and the related exercise price funds to the warrant agent for the Warrants, including consulting with and instructing their investment advisors where they hold their Warrants through an investment advisor. Since the common shares of the Company began re-trading on May 21, 2020 subsequent to the Company's completed transaction with Fenix Gold Inc., the Company has received over $215,000 from exercises of Warrants. Any funds received from these Warrant expiries will provide the Company with funding for the first phase of its $2.9 million exploration program that is already underway (please refer to the Company's previous press releases dated May 29 and June 3, 2020). The continuation of the program includes soil sampling, ground geophysics, and the initial 20 hole drill program slated to begin immediately upon receipt of the final permit for water use. As of June 3, 2020, a total of 7,990,000 of the originally-issued Warrants had yet to be exercised. Each Warrant is exercisable to acquire one Common Share at an exercise price of $0.155. Consequently, if all Warrants are exercised, total proceeds to the Company will equal $1,238,450. If all of the Warrants are exercised, the total issued and outstanding common shares of the Company will be approximately 73,000,000. About FenixOro Gold C...