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Greenlight Metals Inc. Announces Warrant Extensions and Equity Incentive Plan Grants
- All new incentive grants to Insiders priced or valued at $0.30 per share - Medford, Wisconsin-...
About this update from Greenlight Metals Inc
[{"type":"text","content":"Greenlight Metals Inc. Announces Warrant Extensions and Equity Incentive Plan Grants- All new incentive grants to Insiders priced or valued at $0.30 per share -Medford, Wisconsin--(Newsfile Corp. - May 14, 2025) - GreenLight Metals Inc. (TSXV: GRL) (\"GreenLight\" or the \"Company\") announces that the Company proposes to extend the expiry date of an aggregate of 1,249,072 outstanding share purchase warrants (the \"Warrants\"). Each Warrant entitles the holder thereof to acquire one common share of the Company (a \"Share\") at a price of $0.60 per Share. The Company proposes to extend the expiry date of the Warrants by an additional two years (the \"Amendment\"). All other terms of the warrants, including exercise price, will remain the same. The Warrants were issued pursuant to the following private placements and were extended as follows:461,293 Warrants, including 75,000 Warrants issued to insiders, were issued pursuant to a private placement which closed on June 7, 2022. These Warrants were set to expire on June 7, 2025, and the expiry date was extended to June 7, 2027.425,000 Warrants were issued pursuant to a private placement which closed on July 8, 2022. These Warrants were set to expire on July 8, 2025, and the expiry date was extended to July 8, 2027.362,779 Warrants, including 264,611 Warrants issued to insiders, were issued pursuant to a private placement which closed on January 24, 2023. These Warrants were set to expire on January 24, 2026, and the expiry date was extended to January 24, 2028.The Amendment is subject to acceptance by the TSX Venture Exchange (\"TSXV\"), and no action will be required on the part of the holders of the Warrants to give effect to the Amendment.A total of 339,611 Warrants are held by parties who are considered to be \"related parties\" of the Company. Therefore, the amendment of these warrants constitutes a \"related party transaction\" as contemplated by Multilateral Instrument 61-101 Protection of Minority Shareholders in Special Transactions, and TSXV Policy 5.9 - Protection of Minority Shareholders in Special Transactions. However, the exemptions from formal valuation and minority approval requirements provided for by these guidelines can be relied upon as the fair market value of the warrants held by insiders does not exceed 25% of the market capitalization of the Company. A mater...