Business
Lion Rock Announces Extension of Warrants
Vancouver, British Columbia--(Newsfile Corp. - June 26, 2024) - Lion Rock Resources Inc. (TSXV: ...
About this update from Lion Rock Resources Inc
[{"type":"text","content":"Lion Rock Announces Extension of WarrantsVancouver, British Columbia--(Newsfile Corp. - June 26, 2024) - Lion Rock Resources Inc. (TSXV: ROAR) (FSE: KGB1) (the \"Company\" or \"Lion Rock\") announces that it has applied to the TSX Venture Exchange for approval of an amendment to certain share purchase warrants (the \"Warrants\") issued pursuant to a private placement, by extending the expiry date for one additional year (the \"Warrant Amendment\"). The Warrants affected are 3,000,000 share purchase warrants issued on July 8, 2022 with an expiry date of July 8, 2024 and exercisable at $0.25 per common share. The new expiry date will be July 8, 2025 and the exercise price shall remain the same. The Company will not be sending out new warrant certificates unless requested by the holder. A total of 100,000 Warrants are held by parties considered to be \"related parties\" of the Company. Therefore, the Warrant Amendment constitutes a \"related party transaction\" as contemplated by Multilateral Instrument 61-101 Protection of Minority Shareholders in Special Transactions, 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 held by insiders does not exceed 25% of the market capitalization of the Company.The Warrant Amendment is subject to acceptance by the TSX Venture Exchange.About Lion Rock Resources Inc. Lion Rock Resources Inc. is a brownfields exploration company focused on the Maybrun Copper-Gold Project in northwestern Ontario, approximately 80 km from New Gold's Rainy River Gold Mine and 15 km from First Mining Gold's Cameron Lake Project. The Company also holds properties prospective for lithium in Ontario and Quebec.On Behalf of the Board R. Dale Ginn, President & Chief Executive OfficerO: 604-678-5308E: [email protected] the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSXV Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.Cautionary Note regarding Forward-Looking StatementsStatements contained in this press release that are not historical facts are \"forward-looking information\" or \"forward looking statements\" ...