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ZEN Graphene Solutions Announces Notice of Accelerated Expiry of Warrants
GUELPH, ON / ACCESSWIRE / October 4, 2021 / ZEN Graphene Solutions Ltd. (" ZEN " or the " Co...
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[{"type":"text","content":"ZEN Graphene Solutions Announces Notice of Accelerated Expiry of WarrantsGUELPH, ON / ACCESSWIRE / October 4, 2021 / ZEN Graphene Solutions Ltd. (\"ZEN\" or the \"Company\") (TSXV:ZEN)(OTC PINK:ZENYF) gives notice of accelerated expiry to the holders of 760,848 common share purchase warrants (\"2021 Warrants\") of the Company, which were issued pursuant to a private placement completed on April 8, 2021 and 1,419,753 warrants (the \"2020 Warrants\") of the Company which were issued pursuant to a private placement completed on July 6, 2020.April 8, 2021, WarrantsEach Warrant is exercisable to purchase one common share of the Company (each, a \"Common Share\") at a price of $3.00 per Common Share until April 8, 2023, however, pursuant to the terms of the warrant indenture dated April 8, 2021 between the Company and Capital Transfer Agency, ULC, the expiry of the Warrants may be accelerated should the closing price at which the Common Shares trade on the TSX Venture Exchange exceed $4.00 for ten (10) consecutive trading days (the \"2021 Triggering Event\"), and in such event, the Company may accelerate the expiry date to the date which is thirty (30) days following the date the Company issues a written notice of such acceleration to the holders of the Warrants.July 6, 2020, WarrantsEach Warrant is exercisable to purchase one common share of the Company at a price of $0.80 per Common Share until July 6, 2022, however, pursuant to the terms of the applicable warrant certificates , the expiry of the Warrants may be accelerated should the closing price at which the Common Shares trade on the TSX Venture Exchange exceed $1.00 for ten (10) consecutive trading days (the \"2020 Triggering Event\"), and in such event, the Company may accelerate the expiry date to the date which is thirty (30) days following the date the Company issues a written notice of such acceleration to the holders of the Warrants.The Company is pleased to announce that the 2020 Triggering Event and the 2021 Triggering Event have each occurred and that the Company has elected to accelerate the expiry date of the April 8, 2021, and July 6, 2020, Warrants to Thursday, November 3, 2021 (the \"Accelerated Expiry Time\"). Concurrently with this press release, written notice of the Accelerated Expiry Time has been sent to the holders of the Warrants. All unexercised Warrants ...