Victory Announces Warrant Repricing and Extension of Term

Rhea-AI Summary

Victory Battery Metals extends the expiry date of 10,685,278 previously issued warrants for an additional 2 years. The warrants are also being repriced, with each whole warrant entitling the holder to purchase one common share of the company at an exercise price of $0.05. The warrants will contain an acceleration clause, terminating upon 30 days notice if the shares trade at or more than $0.075 for a 10-day period.

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

VANCOUVER, BC / ACCESSWIRE / February 1, 2024 / Victory Battery Metals (CSE:VR)(FWB:VR6)(OTC PINK:VRCFF) ("Victory" or the "Company") is pleased to announce that it has extended the expiry date of an aggregate of 10,685,278 previously issued warrants (the "Warrants") for an additional 2 years. The Warrants were originally issued as follows:

Date Issued	Issue Price*	Exercise Price*	Market Price of underlying shares	Number of Warrants (post consolidation)	Original Expiry Date
Nov 7, 2022	$0.022	$0.45	$0.02	869,444	Nov 7, 2024
Feb 13, 2023	$0.08	$0.36	$0.105	1,866,667	Feb 13, 2025
Feb 16, 2023	$0.08	$0.36	$0.105	1,516,667	Feb 16, 2025
Feb 22, 2023	$0.08	$0.36	$0.105	2,869,167	Feb 22, 2025
Mar 10, 2023	$0.08	$0.45	$0.015	1,563,333	Mar 10, 2025
May 26, 2023	$0.05	$0.21	$0.065	2,000,000	May 26, 2025
				10,685,278

Note: * - Pre-consolidation prices. The Company completed an 5-1 consolidation in October, 2023.

All of these warrants are also being repriced. Each whole Warrant will now entitle the holder to purchase one common share of the Company at an exercise price of $0.05. The Warrants will also contain an acceleration clause, in that if the shares trade at or more than $0.075 for a 10 day period, the expiry date shall terminate upon 30 days notice.

For further information, please contact:

Mark Ireton, President
Telephone: +1 (236) 317 2822 or TOLL FREE 1 (855) 665-GOLD (4653)
E-mail: info@victorybatterymetals.com

About Victory Battery Metals

VICTORY BATTERY METALS (CSE: VR) is a publicly traded diversified investment corporation with mineral interests in North America. The Company is also actively seeking other exploration opportunities.

Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward Looking Statements

Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. All statements other than statements of historical fact are forward-looking statements, including, without limitation, statements regarding future financial position, business strategy, use of proceeds,corporate vision, proposed acquisitions, partnerships, joint-ventures and strategic alliances and co-operations, budgets, cost and plans and objectives of or involving the Company. Such forward-looking information reflects management's current beliefs and is based on information currently available to management. Often, but not always, forward-looking statements can be identified by the use of words such as"plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "predicts", "intends", "targets", "aims", "anticipates" or "believes" or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. A number of known and unknown risks, uncertainties and other factors may cause the actual results or performance to materially differ from any future results or performance expressed or implied by the forward-looking information. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company including, but not limited to, the impact of general economic conditions, industry conditions and dependence upon regulatory approvals. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Company does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by securities laws.

SOURCE: Victory Battery Metals Corp.

View the original press release on accesswire.com

FAQ

What is the total number of previously issued warrants that Victory Battery Metals has extended the expiry date for?

Victory Battery Metals has extended the expiry date of an aggregate of 10,685,278 previously issued warrants.

What is the exercise price of the warrants after the extension?

Each whole warrant will now entitle the holder to purchase one common share of the company at an exercise price of $0.05.

What is the acceleration clause in the extended warrants?

The warrants will contain an acceleration clause, terminating upon 30 days notice if the shares trade at or more than $0.075 for a 10-day period.