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Return Energy Announces Amendment to Expiry Date of Certain Outstanding Warrants
Return Energy Announces Amendment to Expiry Date of Certain Outstanding Warrants C...
About this update from Spartan Delta Corp
[{"type":"text","content":"\n\n\n\nReturn Energy Announces Amendment to Expiry Date of Certain Outstanding Warrants\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\nCanada NewsWire\nCALGARY, Nov. 21, 2017\n\n\n\n/NOT FOR DISSEMINATION IN THE UNITED STATES.  FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF UNITED STATES SECURITIES LAW./\n\n\n\nCALGARY, Nov. 21, 2017 /CNW/ - Return Energy Inc. (\"Return\" or the \"Company\") (TSX-V: \"RTN\") announces that it has extended the expiry date (the \"Extension\") of 16,700,399 common share purchase warrants (the \"Warrants\") originally issued by the Company under the private placement of the Company (the \"Private Placement\") that closed on March 13, 2017. The Company has extended the expiry date of the Warrants to October 20, 2018, from their original expiry date of March 10, 2018. \n\nCertain of the Warrants are held by parties who are considered to be \"related parties\" of the Company (such warrants, the \"Related Party Warrants\"). Therefore, the amendment of the Related Party Warrants constitutes a \"related party transaction\" as contemplated by Multilateral Instrument 61-101 Protection of Minority Shareholders in Special Transactions, and TSX Venture Exchange 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 because neither the fair market value of the Related Party Warrants nor the fair market value of the consideration paid for the Related Party Warrants exceeds 25% of the market capitalization of the Company. A material change report in respect of this related party transaction will be filed by the Company.\n\nHolders of Warrants will not receive an amended Warrant certificate, and will be required to submit their original Warrant certificate in order to exercise Warrants.\n\nFor further information\n\nThis news release is reproduced on Return's website at www.returnenergyinc.com. For this and further information about Return please visit the website or con...