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Cortus Receives Approval for the Extension and Repricing of Outstanding Warrants
Edmonton, Alberta--(Newsfile Corp. - March 16, 2022) - Cortus Metals Inc. (TSXV: CRTS) ( th...
About this update from Metalero Mining Corp
[{"type":"text","content":"Cortus Receives Approval for the Extension and Repricing of Outstanding WarrantsEdmonton, Alberta--(Newsfile Corp. - March 16, 2022) - Cortus Metals Inc. (TSXV: CRTS) (the \"Company\", or \"Cortus\") announces further to its press release dated December 2, 2021, that it has received the approval of the TSX Venture Exchange for amendments to an aggregate of 24,271,004 outstanding share purchase warrants (the \"Historical Warrants\"). The Historical Warrants were originally issued pursuant to private placements completed on August 26, 2020, June 14, 2021 and August 31, 2021 and a debt settlement completed June 22, 2021.Cortus CEO Sean Mager commented, \"We are pleased that the Exchange has accepted our extension of expiry dates and reduction of prices for the exercise and acceleration of more than 24 million outstanding warrants. These changes will appeal to both our historical investors and new investors, as Cortus will generate a healthy treasury of up to $6 million if all in-the-money warrants and options are exercised once the share price reaches the trigger price of 20 cents. This will ensure that Cortus can continue to offer access to windfall through our pursuit of new discoveries in Nevada.\"The expiry date of all of the Historical Warrants will be extended to March 16, 2024, being the date which is two years following receipt of approval for the amendments. The exercise price of the Historical Warrants will be reduced to $0.15, with the exception of 8,500,666 Historical Warrants issued on June 14, 2021, which will be reduced to an exercise price of $0.155. All of the Historical Warrants will be subject to an accelerated expiry provision such that if the closing price of the Company's common shares is equal to or greater than $0.20 for a period of five consecutive trading days, the Company may, by notice to the warrant holder in writing or via press release, reduce the remaining exercise period applicable to the warrants to not less than 30 days from the date of such notice. About Cortus Metals Inc.Cortus Metals Inc. (TSXV: CRTS) (OTCQB: CRTTF) is a new Canadian mineral exploration company with a portfolio of highly prospective early-stage gold and silver projects located in the basins of Nevada and an innovative project accelerator strategy to advance them to fruition. Generally, the projects are situated near operating m...