Vertical Exploration Announces the Extension of the Expiry Date of Certain Common Share Purchase Warrants for One Year

Rhea-AI Summary

Vertical Exploration Inc. (TSXV:VERT) has announced a one-year extension for the expiry date of certain common share purchase warrants, now set for October 7, 2023. The warrants were part of a private placement involving 17,651,700 units that closed on October 7, 2021. Holders must present the original warrant certificates for exercising or transferring the warrants, and all other terms remain unchanged. This extension is pending acceptance by the TSX Venture Exchange.

Positive

• Extension of common share purchase warrants expiry date improves flexibility for warrant holders.
• The original issuance of warrants involved a significant placement of 17,651,700 units, indicating investor interest and funding.

Negative

• None.

VANCOUVER, BC / ACCESSWIRE / September 13, 2022 / VERTICAL EXPLORATION INC. (TSXV:VERT) ("Vertical" or the Company") has agreed to extend the expiry date of certain of its outstanding common share purchase warrants for an additional year. The new expiry date of these warrants will be October 7, 2023. These warrants were issued pursuant to a private placement of 17,651,700 units, which closed on October 7, 2021. For further information on the original issuance of the warrants, please refer to the press releases of the Company dated October 7, 2021.

Warrantholders are advised that replacement warrant certificates will not be issued and that the original warrant certificates must be presented to the company in order to effect the exercise or transfer of such warrants. All other terms and conditions of the warrants remain in full force and effect. The warrant extension remains subject to TSX Venture Exchange acceptance of requisite regulatory filings.

ABOUT VERTICAL EXPLORATION

Vertical Exploration's mission is to identify, acquire, and advance high potential mining prospects located in North America for the benefit of its stakeholders. The Company's flagship St-Onge Wollastonite property is located in the Lac-Saint-Jean area in the Province of Quebec.

ON BEHALF OF THE BOARD

Peter P. Swistak, President/CEO

FOR FURTHER INFORMATION PLEASE CONTACT: Telephone: 1-604-683-3995

Toll-Free: 1-888-945-4770 or visit our website www.vertxinc.com

Neither the TSX Venture Exchange nor it's Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release.

SOURCE: Vertical Exploration Inc.

View source version on accesswire.com:
https://www.accesswire.com/715714/Vertical-Exploration-Announces-the-Extension-of-the-Expiry-Date-of-Certain-Common-Share-Purchase-Warrants-for-One-Year

FAQ

What is the new expiry date for the warrants issued by Vertical Exploration?

The new expiry date for the warrants is October 7, 2023.

How many units were involved in the private placement that issued the warrants?

The private placement involved 17,651,700 units.

What do warrant holders need to do to exercise their warrants?

Warrant holders must present the original warrant certificates to the company to effect the exercise or transfer.

Is the warrant extension subject to any approvals?

Yes, the warrant extension is subject to acceptance by the TSX Venture Exchange.