Business
Sonoro Energy Ltd Announces TSXV Exchange Approval for Amendment of Warrants
(via TheNewswire) April 8, 2019 / TheNewswire / Calgary, Alberta - Sonoro Energy Ltd...
About this update from Sonoro Energy Ltd.
[{"type":"text","content":"Sonoro Energy Ltd Announces TSXV Exchange Approval for Amendment of Warrants(via TheNewswire)\n\n \nApril 8, 2019 / TheNewswire / Calgary, Alberta - Sonoro Energy Ltd (the \"Corporation \" or \"Sonoro\") (TSX Venture: SNV) is pleased to announces that it has received approval from the TSX Venture Exchange for the previously announced amendment of the terms of the common share purchase warrants (the \"Warrants\") issued by the Corporation in connection with a non-brokered Private Placement of the Corporation that closed on April 27, 2017 and May 19, 2017 respectively.\n\n \n \nThe Warrants have been amended as follows:\n\n \n \nThe exercise price of the Warrants is being re-priced from $0.20 to $0.05\n\n \n \nThe exercise period is being extended to December 31, 2019. \n\n \n \nThe Warrants, as amended, include an accelerated expiry provision such that the exercise period of each of the Warrants will be reduced to 30 days if for any 10 consecutive trading days during the unexpired term of such Warrants, the closing price of the Corporation's common shares exceeds the amended exercise price by 25% or more (which would be a trading price of $0.0625 per common share or higher), with the 30-day expiry period commencing on the day the Issuer either (i) disseminates a press release or (ii) sends a written notice to the holders of the Warrants, advising of the commencement of the Exercise Period.\n\n \n \nFor further information about the amendment see the Company's press release dated March 29, 2019.\n\n \n \nForward-looking Statements\n\n\n \nCertain information in this news release constitutes forward-looking statements under applicable securities laws. Any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are often identified by terms such as \"may,\" \"should,\" \"anticipate,\" \"expects,\" \"estimates,\" \"seeks\" and similar expressions. In particular, without limiting the generality of the foregoing, this news release contains forward-looking information regarding the PSC.\n\n\n \nForward-looking statements necessarily involve known and unknown risks, including, without limitation, risks associated with oil and gas exploration, development, exploitation, production, marketing and transportation, loss of markets,...