Velox to Extend Expiry Date and Amend Price of Warrants
Velox Energy Materials Inc. (TSXV: VLX) has announced plans to modify terms of 13,715,281 post-consolidation common share purchase warrants. The company intends to extend the warrants' expiration date from June 30, 2025 to October 14, 2027, and reduce the exercise price from $0.144 to $0.086. The warrants were originally issued as part of a private placement that closed on October 14, 2022.
The proposed amendments, which are subject to TSX Venture Exchange approval, also include the removal of the accelerated expiry clause. All other warrant terms will remain unchanged, and new warrant certificates will only be issued upon holder request.
Velox Energy Materials Inc. (TSXV: VLX) ha annunciato l'intenzione di modificare i termini di 13.715.281 warrant per l'acquisto di azioni ordinarie post-accorpamento. La società prevede di estendere la data di scadenza dei warrant dal 30 giugno 2025 al 14 ottobre 2027 e di ridurre il prezzo di esercizio da 0,144 $ a 0,086 $. I warrant erano stati emessi originariamente nell'ambito di un collocamento privato concluso il 14 ottobre 2022.
Le modifiche proposte, soggette all'approvazione della TSX Venture Exchange, prevedono inoltre la rimozione della clausola di scadenza accelerata. Tutti gli altri termini dei warrant rimarranno invariati e i nuovi certificati saranno emessi solo su richiesta dei detentori.
Velox Energy Materials Inc. (TSXV: VLX) ha anunciado planes para modificar los términos de 13,715,281 warrants de compra de acciones comunes post-consolidación. La compañía pretende extender la fecha de vencimiento de los warrants del 30 de junio de 2025 al 14 de octubre de 2027, y reducir el precio de ejercicio de $0.144 a $0.086. Los warrants fueron emitidos originalmente como parte de una colocación privada que se cerró el 14 de octubre de 2022.
Las enmiendas propuestas, sujetas a la aprobación de la TSX Venture Exchange, también incluyen la eliminación de la cláusula de vencimiento acelerado. Todos los demás términos de los warrants permanecerán sin cambios y se emitirán nuevos certificados solo a solicitud de los tenedores.
Velox Energy Materials Inc. (TSXV: VLX)는 13,715,281개의 주식병합 후 보통주 매수 워런트 조건을 변경할 계획을 발표했습니다. 회사는 워런트 만료일을 2025년 6월 30일에서 2027년 10월 14일로 연장하고, 행사가격을 $0.144에서 $0.086로 인하할 예정입니다. 해당 워런트는 2022년 10월 14일에 종료된 사모 발행의 일부로 처음 발행되었습니다.
TSX 벤처 거래소의 승인을 받아야 하는 이번 수정안에는 조기 만료 조항의 제거도 포함되어 있습니다. 기타 모든 워런트 조건은 변경되지 않으며, 새로운 워런트 증서는 보유자의 요청 시에만 발행됩니다.
Velox Energy Materials Inc. (TSXV : VLX) a annoncé son intention de modifier les conditions de 13 715 281 bons de souscription d'actions ordinaires post-consolidation. La société prévoit de prolonger la date d'expiration des bons du 30 juin 2025 au 14 octobre 2027 et de réduire le prix d'exercice de 0,144 $ à 0,086 $. Ces bons avaient été émis initialement dans le cadre d'un placement privé clôturé le 14 octobre 2022.
Les modifications proposées, soumises à l'approbation de la TSX Venture Exchange, incluent également la suppression de la clause d'expiration accélérée. Toutes les autres conditions des bons resteront inchangées, et de nouveaux certificats ne seront émis qu'à la demande des détenteurs.
Velox Energy Materials Inc. (TSXV: VLX) hat Pläne angekündigt, die Bedingungen von 13.715.281 nach der Konsolidierung ausgegebenen Kaufoptionen für Stammaktien zu ändern. Das Unternehmen beabsichtigt, das Ablaufdatum der Warrants vom 30. Juni 2025 auf den 14. Oktober 2027 zu verlängern und den Ausübungspreis von 0,144 $ auf 0,086 $ zu senken. Die Warrants wurden ursprünglich im Rahmen einer Privatplatzierung ausgegeben, die am 14. Oktober 2022 abgeschlossen wurde.
Die vorgeschlagenen Änderungen, die der Genehmigung der TSX Venture Exchange unterliegen, beinhalten auch die Entfernung der beschleunigten Ablaufklausel. Alle anderen Bedingungen der Warrants bleiben unverändert, und neue Zertifikate werden nur auf Anfrage der Inhaber ausgestellt.
- None.
- Warrant exercise price reduction from $0.144 to $0.086 indicates potential value dilution
- Extension of warrant expiration by over 2 years suggests possible challenges in warrant execution at current prices
Vancouver, 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
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
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
Director
Email: nmorcombe@veloxmaterials.com.au
About Velox Energy Materials
Velox 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 @
The Company additionally owns Kotai Energy and the option to acquire
Forward-Looking Statements
Neither 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 information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking statements relate to future events or future performance and reflect the expectations or beliefs of management of the Company regarding future events. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as "intends" or "anticipates", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "should", "would" or "occur". This information and these statements, referred to herein as "forward‐looking statements", are not historical facts, are made as of the date of this news release and include without limitation, statements regarding discussions of future plans, estimates and forecasts and statements as to management's expectations and intentions with respect to, among other things, the proposed amendments to the terms of the Warrants.
These forward‐looking statements involve numerous risks and uncertainties and actual results might differ materially from results suggested in any forward-looking statements. These risks and uncertainties include, among other things, market uncertainty and the risk that the Exchange will not approve the amendments to the terms of the Warrants.
In making the forward looking statements in this news release, the Company has applied several material assumptions, including without limitation, that the Company will receive approval from the Exchange to amend the terms of the Warrants.
Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial out-look that are incorporated by reference herein, except in accordance with applicable securities laws. We seek safe harbor.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/256558
FAQ
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