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Velox to Extend Expiry Date and Amend Price of Warrants
Vancouver, British Columbia--(Newsfile Corp. - June 23, 2025) - Velox Energy Materials Inc. (TSXV...
About this update from Velox Energy Materials Inc
[{"type":"text","content":"Velox to Extend Expiry Date and Amend Price of WarrantsVancouver, British Columbia--(Newsfile Corp. - June 23, 2025) - Velox Energy Materials Inc. (TSXV: VLX) (\"Velox\" or the \"Company\") announces that it intends to amend the exercise price and extend the term of an aggregate of 13,715,281 post-consolidation common share purchase warrants (the \"Warrants\") issued as part of the Company's private placement that closed on October 14, 2022. The Warrants are exercisable at a price of $0.144 and currently expire on June 30, 2025.Subject to the approval of the TSX Venture Exchange (the \"Exchange\"), the term of the Warrants will be extended to October 14, 2027. The exercise price will be reduced to $0.086, and the accelerated expiry clause will be abolished. All other terms of the Warrants will remain the same.The Company will not be sending out new warrant certificates pursuant to the Amendment unless requested by the relevant holders.Approved by the Board of Velox Energy Materials Inc.Nicole Morcombe DirectorEmail: [email protected] Velox Energy MaterialsVelox Energy Materials is a publicly traded energy materials company developing and progressing high-value assets in resource and research-friendly jurisdictions. The Company's priority focus is the advanced NQV Project in Queensland, Australia. The NQV Project hosts the Cambridge Deposit with a CIM compliant Indicated Mineral Resource of 61.33 Mt @ 0.34% V2O5 and 234.6 ppm MoO3 along with an Inferred Mineral Resource of 144.87 Mt @ 0.33% V2O5 (cut-off grade of 0.25% V2O5) and 241.9 ppm MoO3 (Dufresne et al., 2022). The Company is targeting shallow, high-grade mineralization that can be developed using low-cost mining and processing options.The Company additionally owns Kotai Energy and the option to acquire 100% of the intellectual property rights associated with the Solid-State Hydrogen Storage Project from Curtin University in Western Australia. Kotai is focused on the commercialisation of technology that can produce high-pressure hydrogen following transport as an inert powder.Forward-Looking StatementsNeither the TSX Venture Exchange nor its regulation services provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.This release includes certain statements and...