Business
Fuse Cobalt Amends Warrants
(via TheNewswire) Vancouver, BC - TheNewswire - April 30, 2020 - Fuse Cobalt Inc. ...
About this update from Fuse Battery Metals Inc
[{"type":"text","content":"Fuse Cobalt Amends Warrants(via TheNewswire)\n \n \nVancouver, BC - TheNewswire - April 30, 2020 - Fuse Cobalt Inc. (\"the Company\" or \"Fuse\") (TSXV:FUSE), (OTC:WCTXF) (FRA:43W2) \") announces that it is proposing to amend the terms of 4,028,333 (post-consolidated) share purchase warrants (the \"Warrants\") by amending the exercise price from $0.15 (post-consolidated) to $0.09 per share and extending the term of the warrants by three years so that the Warrants will now expire on February 4, 2024.\n\n \n \nIn accordance with the policies of the TSX Venture Exchange (\"Exchange\"), the terms of the Warrants will be further amended to include an accelerated expiry clause such that the exercise period of the Warrants will be reduced to 30 days if, for any 10 consecutive trading days during the unexpired term of the Warrants, the closing price of the Company's shares is $0.1125 or more. All other terms of the Warrants remain the same.\n\n \n \nThe 4,028,333 Warrants were issued pursuant to a non-brokered private placement that closed on February 4, 2019. The Warrants were originally issued at $0.06 ($0.125 post-consolidated) per share, where each Warrant entitled the holder to purchase an additional share at $0.075 ($0.15 post-consolidated) per share for a period of two years from closing.\n\n \n \nCertain insiders of the Company are holders of the Warrants, which is considered a related party transaction, as defined under Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions (\"MI 61-101\") and Exchange Policy 5.9 Protection of Minority Security Holders in Special Transactions. The Company relied on the exemptions from the valuation and minority shareholder approval requirements of MI 61-101 contained in Sections 5.5(a) and 5.7(a), respectively, of MI 61-101 in respect of such insider participation. Pursuant to the policies of the Exchange, no more than 10% of the aggregate number of Warrants held by these insiders may be amended.\n\n \n \nThe amendment is subject to the acceptance by the Exchange and the consent of the holders of the Warrants.\n\n \n \nAbout Fuse Cobalt Inc. https://fusecobalt.com/\n\n \n \nFuse Cobalt Inc. is a Canadian based exploration company that trades under the symbol FUSE on the TSX Venture Exchange. The Company's focus is on exploration for high value metals requ...