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NEXE Innovations Announces 2021 Warrants Extended and Repriced
NEXE Innovations Announces 2021 Warrants Extended and Repriced Canada NewsWire ...
About this update from Nexe Innovations Inc
[{"type":"text","content":"\n \n \n \n NEXE Innovations Announces 2021 Warrants Extended and Repriced\n \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 \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n NEXE Innovations has sufficient capital to execute its business plan, but believes the proposed amendments are consistent with prudent financial planning and rewards its existing shareholders for their continued support\n \n \n \n \n \n VANCOUVER, BC\n \n \n ,\n \n \n March 20, 2023\n \n \n /CNW/ - NEXE Innovations Inc. (\"NEXE\" or the \"Company\") (TSXV: NEXE) (Frankfurt: NX5) (OTC: NEXNF), a compostable and innovative materials company, is pleased to announce that it intends to reduce the exercise price and extend the expiry date of an aggregate of 8,625,000 outstanding common share purchase warrants (\"Warrants\") issued by the Company as part of a unit of the Company in connection with a bought deal public offering that closed on\n \n April 9, 2021\n \n (the \"Offering\"). The Offering was pursuant to a prospectus supplement dated\n \n April 7, 2021\n \n under the Company's base shelf prospectus dated\n \n March 29, 2021\n \n and the Warrants were issued pursuant to a warrant indenture dated\n \n April 9, 2021\n \n between the Company and TSX Trust.\n \n \n \n \n \n \n \n \n \n The Company believes that the repricing of the Warrants increases the likelihood that shareholder value will be maintained should warrant holders choose to exercise their Warrants at the reduced exercise price. In addition to being beneficial to shareholders, the Company believes that these amendments to the Warrants, which are currently \"out of the money\" by a significant margin and are expected to expire within a month hereof without ever being exercised,\n \n present only potential upside to holders of Warrants at no additional cost to such holders\n \n . As of the date of this news release, no Warrants have been exercised and no insiders of NEXE hold or control the Warrants.\n \n \n \n Key Highlights\n \n \n \n \n The Company proposes to\n \n reduce the exercise price from\n \n $2.50\n \n to\n \n $0.65\n \n per share and ...