Eagle Plains Announces Conditional Approval of Warrant Expiry Extension

Rhea-AI Summary

Eagle Plains Resources (OTCQB:EGPLF) has received conditional TSX Venture Exchange approval to extend the expiry date of 2,220,750 outstanding common share purchase warrants by 12 months. The warrants, originally issued in August 2023, will now expire on August 2nd, 2026 instead of August 2nd, 2025.

The warrants maintain their original exercise price of 30 cents and include an acceleration clause allowing early expiry if the company's stock trades at or above $0.50 for 20 consecutive trading days, with a 30-day notice period for holders to exercise.

Positive

• Extension provides warrant holders additional 12 months to exercise
• Maintains existing 30-cent exercise price without modification
• Company preserves potential future funding through warrant exercises

Negative

• Dilution potential extended for an additional year
• Indicates possible challenges in warrant holders exercising at current price levels

CRANBROOK, BC / ACCESS Newswire / July 28, 2025 / Eagle Plains Resources Ltd. (TSXV:EPL)(OTCQB:EGPLF) ("EPL" or "Eagle Plains") has received conditional approval from the TSX Venture Exchange 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 $100,000,000 in value directly to its shareholders, with Copper Canyon Resources and Taiga Gold Corp. being notable examples. Eagle Plains latest spinout, Eagle Royalties Ltd. (CSE:"ER") was listed on May 24, 2023, and holds a diverse portfolio of royalty assets throughout western Canada. On July 02, 2025, ER announced that it had entered into a definitive amalgamation agreement with Summit Royalty Corp. pursuant to which Summit will "go-public" by way of a reverse takeover (RTO) of ER. Eagle Royalties shareholders will receive a consideration of $0.18 per ER share, representing a premium of 47% based on ER's closing price on June 30, 2025 on the Canadian Securities Exchange. Completion of the RTO is subject to a number of conditions, including, but not limited to, Exchange acceptance and required shareholder approvals of ER and Summit. There can be no assurance that the RTO will be completed as proposed or at all.

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 $39M, the majority of which was funded by third-party partners. This exploration work resulted in approximately 50,000m of diamond-drilling and extensive ground-based exploration work facilitating the advancement of numerous projects at various stages of development.

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 is the new expiry date for Eagle Plains Resources (EGPLF) warrants?

The warrants' expiry date has been extended by 12 months to August 2nd, 2026, subject to TSX Venture Exchange approval.

How many warrants are affected by EGPLF's expiry extension?

The extension affects 2,220,750 outstanding common share purchase warrants that were originally issued in August 2023.

What is the exercise price for Eagle Plains Resources warrants?

The warrants maintain their original exercise price of 30 cents per warrant.

What is the acceleration clause for EGPLF's warrants?

The warrants include an acceleration clause allowing early expiry if the stock trades at or above $0.50 for 20 consecutive trading days, with a 30-day notice period for exercise.

When were these Eagle Plains Resources warrants originally issued?

The warrants were originally issued as part of a non-brokered private placement completed in August 2023.