Eagle Plains Announces Conditional Approval of Warrant Expiry Extension and Additional Application to Extend Warrant Expiry
Rhea-AI Summary
Eagle Plains Resources (OTCQB:EGPLF) has received conditional TSX Venture Exchange approval to extend the expiry dates of two sets of warrants. The first extension involves 3,785,529 warrants from July 2022, currently expiring July 11th, 2025, to be extended to July 11th, 2026, with an exercise price of $0.25. The second application concerns 2,220,750 warrants from August 2023, seeking extension from August 2nd, 2025 to August 2nd, 2026, with an exercise price of $0.30.
Both warrant sets maintain their acceleration clauses, which can be triggered if the company's stock trades at or above $0.50 for 20 consecutive trading days, requiring exercise within 30 days of notice.
Positive
- Warrant holders get additional 12 months to exercise their rights
- Maintains existing exercise prices without increases
Negative
- Potential future dilution if warrants are exercised
- Extension may indicate lack of confidence in near-term share price appreciation
News Market Reaction
On the day this news was published, EGPLF declined NaN%, reflecting a moderate negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
CRANBROOK, BC / ACCESS Newswire / July 15, 2025 / Eagle Plains Resources Ltd. (TSX-V:EPL)(OTCQB:EGPLF) ("EPL" or "Eagle Plains") has received conditional approval from the TSX Venture Exchange to amend the term of 3,785,529 outstanding common share purchase warrants which were issued in connection with a non-brokered private placement completed in July 2022, (see EPL news release dated July 11th, 2022, July 25, 2024 and June 27, 2025). The warrants have a current expiry date of July 11th, 2025.
The share purchase warrants are subject to an accelerated expiry at the option of the Company if the published closing trade price of the common shares on the TSX Venture Exchange is greater than or equal to $.50 for any 20 consecutive trading days, in which event the holder may be given notice that the warrants will expire 30 days following the date of such notice. The common share purchase warrants may be exercised by the holder during the 30-day period between the notice and the expiration of the common share purchase warrants.
Eagle Plains has applied to extend the expiry date for an additional 12 months to a revised date of July 11th, 2026. The exercise price and acceleration clause of the warrants will remain unchanged, at 25 cents per warrant.
Additionally, Eagle Plains has made application to the TSX Venture Exchange for approval and acceptance to amend the term of 2,220,750 outstanding common share purchase warrants which were issued in connection with a non-brokered private placement completed in August, 2023, (see EPL news release dated August 3rd, 2023). The warrants have a current expiry date of August 2nd, 2025.
The share purchase warrants are subject to an accelerated expiry at the option of the Company if the published closing trade price of the common shares on the TSX Venture Exchange is greater than or equal to $.50 for any 20 consecutive trading days, in which event the holder may be given notice that the warrants will expire 30 days following the date of such notice. The common share purchase warrants may be exercised by the holder during the 30-day period between the notice and the expiration of the common share purchase warrants.
Eagle Plains has applied to extend the expiry date for an additional 12 months to a revised date of August 2nd, 2026. The exercise price and acceleration clause of the warrants will remain unchanged, at 30 cents per warrant.
About Eagle Plains Resources
Based in Cranbrook, B.C., Eagle Plains is a well-funded, prolific project generator that continues to conduct research, acquire and explore mineral projects throughout western Canada, with a focus on critical metals integral to an increasingly electrified, decarbonized economy.
The Company was formed in 1992 and is the fourth-oldest listed issuer on the TSX-V (and the only one of these four that has not seen a roll-back or restructuring of its shares). Eagle Plains has continued to deliver shareholder value over the years and through numerous spin outs has transferred over
On October 2, 2024, Eagle Plains announced the formation of a separate division within the Company that will give Eagle Plains' shareholders direct exposure to strategic opportunities in Canadian green energy transition. As a wholly owned subsidiary of Eagle Plains, Osprey Power Inc. ("OP") will focus on identifying and advancing innovative and diverse clean energy project portfolios in target markets throughout Canada, with an initial focus on Western Canada.
Eagle Plains' core business is acquiring grassroots critical- and precious-metal exploration properties. The Company is committed to steadily enhancing shareholder value by advancing our diverse portfolio of projects toward discovery through collaborative partnerships and development of a highly experienced technical team.
Expenditures from 2010-2024 on Eagle Plains-related projects exceed
Throughout the exploration process, our mission is to help maintain prosperous communities by exploring for and discovering resource opportunities while building lasting relationships through honest and respectful business practices.
On behalf of the Board of Directors of Eagle Plains
"C.C. (Chuck) Downie, P.Geo"
President and CEO
For further information on EPL, please contact Mike Labach at 1 866 HUNT ORE (486 8673)
Email: mgl@eagleplains.com or visit our website at https://www.eagleplains.com
Cautionary Note Regarding 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 news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.
SOURCE: Eagle Plains Resources Ltd.
View the original press release on ACCESS Newswire
FAQ
What changes did Eagle Plains (EGPLF) announce to its warrant terms?
What is the exercise price for Eagle Plains' July 2022 warrants?
What triggers the acceleration clause for Eagle Plains warrants?
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