Warrant extension
posted on
Jan 21, 2021 01:14PM
100% interest: 4 strategic graphite properties / 2 past producing graphite mines in Ontario and Québec
January 20, 2021, Mississauga, ON, Canada – Canada Carbon Inc. (the “Company”) (TSX-V: CCB) announces that the Company will be extending the exercise period of a total of 5,930,000 share purchase warrants, all of which are exercisable at $0.30 per share (collectively, the "Warrants"). The Warrants were issued pursuant to a private placement which closed over two tranches in April 2017. In January 2020, the terms of the warrants were extended by one year. The Company proposes to extend the expiry dates for all these Warrants by one (1) additional year, and accordingly, the new expiry dates for the Warrants are as follows:
All other terms and conditions of the Warrants remain unchanged. The Warrant extension is subject to acceptance by the TSX Venture Exchange.
A portion of the Warrants are held by parties who are considered to be "related parties" of the Company. Therefore, the amendment of Warrants constitutes a "related party transaction" as contemplated by Multilateral Instrument 61-101 Protection of Minority Shareholders in Special Transactions, and TSXV 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 as the fair market value of the Warrants does not 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.
CANADA CARBON INC.
“Olga Nikitovic”
Interim CEO
Contact Information
E-mail inquiries: info@canadacarbon.com
P: (905) 813-8952H