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Dolly Varden Announces Re-Pricing of Options
Dolly Varden Announces Re-Pricing of Options Canada NewsWire VANCOUVER, May 10, ...
About this update from Dolly Varden Silver Corporation
[{"type":"text","content":"\n\n\n\nDolly Varden Announces Re-Pricing of Options\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\n\nCanada NewsWire\nVANCOUVER, May 10, 2019\n\n\n\n/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/\n VANCOUVER, May 10, 2019 /CNW/ - Dolly Varden Silver Corporation (TSXV: \"DV\" – OTCBB: \"DOLLF\") (the \"Company\", or \"Dolly Varden\") announces that it has approved the re-pricing of a total of 3,250,000 stock options of the Company to purchase common shares (the \"Re-Priced Options\") to an amended exercise price of C$0.40 per share (the \"Re-Pricing\"). All other terms of the Re-Priced Options remain unchanged. The Re-Pricing is subject to the approval of the TSX Venture Exchange (\"TSX-V\").\nIn accordance with Policy 4.4 of the TSX-V Corporate Finance Manual (the \"TSX-V Manual\"), the Company will seek disinterested shareholder approval (\"Disinterested Shareholder Approval\") for the Re-Pricing of 2,375,000 of the Re-Priced Options, which are held by Insiders (as such term is defined in the TSX-V Manual) of the Company (the \"Insider Options\"), at the annual general meeting of the Company to be held on June 20, 2019 (the \"Meeting\"). Additional information on the Re-Pricing of the Insider Options will be included in the management information circular of the Company that will be mailed to shareholders in connection with the Meeting. None of the Re-Priced Options may be exercised at the revised price until the Company obtains the approval of the TSX-V and, with respect to the Insider Options, Disinterested Shareholder Approval.\nThe board of directors of the Company determined to re-price the Re-Priced Options because the current trading price of the common shares of the Company on the TSX-V is considerably lower than the current exercise price of the Re-Priced Options. Accordingly, the board was of the view that the Re-Priced Options had little or no value or incentive for the holders thereof.\nAbout Dolly Varden\nDolly Varden is a mineral exploration company foc...