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Highway 50 Gold : Seeks to Extend Term of Previously Issued Warrants
Highway 50 Gold : Seeks to Extend Term of Previously Issued
About this update from Highway 50 Gold Corp.
[{"type":"text","content":"\n Highway 50 Gold Seeks to Extend Term of Previously Issued Warrants\n May 1, 2025 View PDF\n Highway 50 Gold Corp. (\"Highway 50\" or the \"Company\") announces that the Company is proposing to extend the term of an aggregate of 1,249,284 outstanding common share purchase warrants (the \"Warrants\") for a period of one year to May 16, 2026. The Warrants were issued pursuant to a non-brokered private placement of units of the Company completed on May 16, 2023. Each Warrant currently entitles the holder to purchase one common share of the Company (a \"Warrant Share\") at an exercise price of $0.40 per Warrant Share until May 16, 2025. No Warrants have been exercised to date. 25,000 Warrants are held by Eagle Putt Ventures Inc., a company controlled by Mr. Gordon Leask, the President, Chief Executive Officer and director of the Company, and 25,000Warrants are held by Mr. John Leask, a director of the Company. Pursuant to Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions (\"MI 61-101\"), the amendment to the Warrants held by the insiders of the Company constitutes a \"related party transaction\". The transaction is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101, in reliance on the exemptions contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101, respectively, as neither the fair market value of the subject matter of, nor the consideration for, the transaction, insofar as it involves the insiders, exceeds 25% of the Company's market capitalization.\n \n \n The proposed amendment to extend the expiry date of the Warrants is subject to TSX Venture Exchange acceptance.\n \n \n On behalf of the Board of Directors of Highway 50 Gold Corp.\n Gordon P. Leask, President, Chief Executive Officer and Director\n For additional information:\n Gordon P. Leask, P.Eng. or John M. Leask, P.Eng.\n Tel: 604.681.4462 \n Email: [email protected] or [email protected] Highway 50 Gold Corp.\n Highway 50 Gold Corp. is a mineral exploration stage company led by a team of experienced explorers and mine finders. The Company is executing an exploration plan refined over 35 years of experience in Nevada. The exploration focus on its projects are a result of what management believes to be breakthroughs in the understanding of north-central Nevada's crust...