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Intrepid Metals Extends Expiry Date of Warrants
Vancouver, British Columbia--(Newsfile Corp. - February 12, 2024) - Intrepid Metals Corp. (TSXV:...
About this update from Intrepid Metals Corp.
[{"type":"text","content":"Intrepid Metals Extends Expiry Date of WarrantsVancouver, British Columbia--(Newsfile Corp. - February 12, 2024) - Intrepid Metals Corp. (TSXV: INTR) (OTCQB: IMTCF) (\"Intrepid\" or the \"Company\") announces that the Company intends to extend the exercise period of a total of 3,838,125 share purchase warrants, all of which are exercisable at $0.70 per common share (collectively, the \"Warrants\"). The Warrants were issued pursuant to a private placement which closed on April 21, 2022. The Company proposes to extend the expiry dates for these Warrants to October 31, 2024. All other terms and conditions of the Warrants remain unchanged. The Warrant extension is subject to acceptance by the TSX Venture Exchange.A total of 190,625 Warrants are held by parties who are considered to be \"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 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 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.In addition, the Company has also granted a total of 1,470,000 stock options to directors, officers and consultants of the Company. The stock options have an exercise price of $0.64 and expire on February 12, 2029.About Intrepid Metals Corp.Intrepid is traded on the TSX Venture Exchange (TSXV) under the symbol \"INTR\" and on the OTCQB Venture Market under the symbol \"IMTCF\". For more information, visit www.intrepidmetals.com.INTREPID METALS CORP.On behalf of the Company\"Ken Brophy\"CEOFor further information regarding this news release, please contact:Ken Brophy, [email protected] Note Regarding Forward-Looking InformationCertain statements contained in this release constitute forward-looking...