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Lincoln Gold Announces Warrant Repricing and Extension
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES ...
About this update from Lincoln Gold Mining Inc
[{"type":"text","content":"Lincoln Gold Announces Warrant Repricing and ExtensionNOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATESVANCOUVER, BC / ACCESSWIRE / April 11, 2022 / Lincoln Gold Mining Inc. (\"Lincoln\" or the \"Company\") (TSXV:LMG) announces that, subject to the approval of the TSX Venture Exchange, Lincoln intends to proceed with a repricing and extension of certain outstanding common share (each, a \"Share\") purchase warrants (the \"Warrants\") of the Company.Warrant Repricing and ExtensionThe Company intends to reprice an aggregate of 10,881,038 Warrants and extend the expiry date of an aggregate of 4,512,372 Warrants as follows:Number of Warrants OutstandingIssue DateOriginal Exercise PriceOriginal Expiry DateNew Exercise PriceNew Expiry Date1,342,190(1)January 26, 2018$0.80(1)April 26, 2022$0.08January 26, 2023142,000(1)February 20, 2018$0.80(1)April 26, 2022$0.08February 20, 2023600,000(1)May 30, 2018$0.80(1)April 26, 2022$0.08May 30, 20232,428,182August 13, 2020$0.15August 13, 2022$0.08June 4, 20232,768,666June 4, 2021$0.25June 4, 2023$0.08No Change3,600,000July 20, 2021$0.25July 20, 2024$0.08No ChangeNote:Figures adjusted pursuant to a 10:1 consolidation made effective on September 24, 2019.In connection with the repricing and in addition to the extension of the Warrants listed above, the terms of the Warrants will be amended to include an accelerated expiry clause such that the exercise period of the Warrants will be reduced to 30 days if, for any ten consecutive trading days during the unexpired term of the Warrants, the closing price of the Shares exceeds the new exercise price of the Warrants by 25% or more. The 30-day expiry period will commence on the day that the Company disseminates a press release announcing the accelerated expiry period.About LincolnLincoln Gold Mining Inc. is an advanced-stage gold mine exploration and development company holding a 100% interest in the Pine Grove Gold Project, in the Walker Lane structural zone of western Nevada. The Company has prepared a preliminary economic assessment of the Pine Grove Gold Project pursuant to National Instrument 43-101 - Standards of Disclosure for Mineral Projects. Lincoln is working with the U.S. Forest Service to secure the permits necessary to develop the Pine Grove Gold Project into a low-cost heap leach operation with a high...