Business
Fidelity Minerals Applies to Extend Warrant Expiry Dates
(TheNewswire) Vancouver, BC – TheNewswire - September 19, 2022 &#x...
About this update from Fidelity Minerals Corp.
[{"type":"text","content":"Fidelity Minerals Applies to Extend Warrant Expiry Dates\n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Vancouver, BC –\n \n \n TheNewswire -\n \n \n September 19, 2022\n \n \n – Fidelity Minerals Corp. (TSXV:FMN\n \n \n )\n \n \n |\n \n \n (OTC:SAIDF) |\n(\n \n \n FSE:S5GM\n \n \n )\n \n \n |\n \n \n (\n \n \n SSE:MNYC)\n(“\n \n \n Fidelity\n \n \n Minerals\n \n \n ” or the\n“\n \n \n Company\n \n \n ”) announces that it is applying to the TSX Venture\nExchange (the “\n \n \n TSXV\n \n \n ” or “\n \n \n Exchange\n \n \n ”) to\nextend the expiry date of 9,925,000 common share purchase warrants\n(the “\n \n \n Warrants\n \n \n ”) issued by the Company in connection with a private\nplacement financing that closed on April 12, 2022. The original term\nof the Warrants was six months and currently expires on October 12,\n2022. The Company proposes to extend the expiry date to April 12, 2023\n(the “\n \n \n Warrant\n \n \n Extension\n \n \n ”). No\nother terms of the Warrants are to be amended and the exercise price\nremains at $0.11.\n \n \n The proposed amendment of\nthe Warrants is subject to TSXV approval.\n \n \n \n \n Certain of the Warrants are held by parties who are\nconsidered to be “related parties” of the Company (such warrants,\nthe\n \n \n “Related Party\nWarrants”)\n \n \n . Therefore, the amendment of the\nRelated Party Warrants constitutes a “related party transaction”\nas contemplated by Multilateral Instrument 61-101 Protection of\nMinority Shareholders in Special Transactions, and TSXV Policy 5.9 -\nProtection of Minority Shareholders in Special Transactions. However,\nthe exemptions from formal valuation and minority approval\nrequirements provided for by these guidelines can be relied upon\nbecause neither the fair market value of the Related Party Warrants\nnor the fair market value of the consideration paid for the Related\nParty Warrants exceeds 25% of the market capitalization of the\nCompany.  A material change report in respect of this related party\ntransaction will be filed by the Company. The extension of the\nWarrants would only be effective upon TSXV approval and receipt of the\nrequisite confirmation from the holders...