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European Energy Metals Announces Proposed Warrant Repricing
Vancouver, British Columbia--(Newsfile Corp. - October 28, 2024) - European Energy Metals (TSXV: ...
About this update from Grit Metals Corp.
[{"type":"text","content":"European Energy Metals Announces Proposed Warrant RepricingVancouver, British Columbia--(Newsfile Corp. - October 28, 2024) - European Energy Metals (TSXV: FIN) (FSE: W28) (\"European Energy Metals\" or the \"Company\") announces that, subject to approval of the TSX Venture Exchange and the holders thereof, the Company intends to amend the exercise price of an aggregate of 6,011,677 common share purchase warrants (the \"Warrants\") that were issued pursuant to the Company's private placements that completed on June 30, 2023, July 4, 2023 and October 20, 2023. The Warrants had an original price of $0.75 and the Company intends to amend the exercise price to $0.25. The expiry dates of the Warrants were originally three years from the date of issuance. However, following the repricing, in accordance with the policies of the TSX Venture Exchange, if for any ten consecutive trading days during the unexpired term of the Warrants (\"Premium Trading Days\"), the closing price of the Company's common shares exceeds $0.3125, the exercise period of the Warrants will be reduced to 30 days beginning no more than seven calendar days after the tenth Premium Trading Day. In addition to the approval of the TSX Venture Exchange, the proposed repricing of the Warrants is also subject to receipt of a consent from each holder of the Warrants.About Grit Metals Corp.Grit Metals Corp. is a junior mining company currently focussed on the Lithium-Cesium-Tantalum Finnish Pegmatite Project in central Finland. Governing bodies in Europe and Finland are legislating environmentally friendly and energy independent laws and policies. One of the key components is access to REE and, specifically, lithium. The company's exploration licenses are located within 1 kms of the Keliber mine and production complex, currently under construction and expected to begin production in H2 2025.An estimated €600 million investment by Keliber's parent company Sibanye-Stillwater Limited in partnership with the Finnish Minerals Group (www.mineralsgroup.fi) is underway in the Kautinen Region and will see the development of open-pit and underground mining from several deposits, construction of a central spodumene concentrator plant and a lithium hydroxide chemical plant at tidewater in Kokkola. When completed, this complex will comprise a complete hard-rock spodumene pegmatite...