Business
Intrepid Metals Announces TSX Venture Exchange Approval of Extension of Warrant Expiry Date by 90 Days
Vancouver, British Columbia--(Newsfile Corp. - December 30, 2025) - Intrepid Metals Corp. (TSXV: INTR) (OTCQB: IMTCF) ("Intrepid" or the "Company") announces...
About this update from Intrepid Metals Corp.
[{"type":"text","content":"Vancouver, British Columbia--(Newsfile Corp. - December 30, 2025) - Intrepid Metals Corp. (TSXV: INTR) (OTCQB: IMTCF) ("Intrepid" or the "Company") announces that, further to its press release of December 10, 2025, the TSX Venture Exchange ("TSX-V") has approved the extension of the exercise period of a total of 19,046,764 share purchase warrants, all of which are exercisable at $0.45 per common share (collectively, the "Warrants") by 90 days. The Company has extended the expiry dates for (i) 9,499,999 of the Warrants, originally issued as part of units or special warrants on January 5, 2024, to April 5, 2026 and (ii) 9,546,765 of these Warrants, originally issued on January 24, 2025, to April 24, 2026. All other terms and conditions of the Warrants remain unchanged.","length":817,"tagName":"p"},{"type":"text","content":"The Warrants were issued pursuant to private placements that closed on January 5, 2024 and January 24, 2024, respectively. The private placements consisted of 17,188,235 common shares with 17,188,235 share purchase warrants and 2,223,529 special warrants. Each special warrant consisted of one common share and one common share purchase warrant, and the special warrants have been exercised in full. Prior to the announcement of the extension of the Warrants, a total of 365,000 Warrants were previously exercised.","length":514,"tagName":"p"},{"type":"text","content":"A total of 9,146,567 Warrants are held by parties who are "related parties" of the Company. Therefore, the amendment of Warrants constitutes a "related party transaction" as contemplated by Multilateral Instrument 61-101 - Protection of Minority Shareholders in Special Transactions ("MI 61-101"), and TSX-V 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 does not exceed 25% of the market capitalization of the Company. The Company did not file a material change report related to this transaction more than 21 days before the expected closing of the Warrant Extension as required by MI 61-101 since the decision to extend the warrants was made on an expedited basis for sound business reasons.",...