Eskay Announces Acceleration of 2018 Warrant Expiry Date to September 23, 2020

Rhea-AI Summary

Eskay Mining Corp. has accelerated the expiry date of 1,142,000 2018 Warrants due to the company's shares closing above $0.60 for ten consecutive trading days, effective August 21, 2020. These warrants, initially set to expire later, must be exercised by September 23, 2020, at an exercise price of $0.40 per share. Eskay Mining, focused on the exploration and development of precious and base metals in British Columbia's Golden Triangle, continues to enhance its operational strategies.

Positive

• Shares closing above $0.60 for ten consecutive days indicates strong market performance.
• Acceleration of warrant expiry could lead to increased capital if warrants are exercised.

Negative

• Investors have a limited timeframe to exercise warrants, which may pressure decision-making.

TORONTO, ON / ACCESSWIRE / August 24, 2020 / Eskay Mining Corp. ("Eskay" or the "Company") (TSXV:ESK)(OTCQB:ESKYF)(Frankfurt:KN7) (WKN: A0YDPM) wishes to announce that, further to its Press Release dated May 15, 2020 announcing the extension of the expiry dates of the warrants issued pursuant to the June 2018 private placement (the "2018 Warrants"), the expiry date of the remaining 1,142,000 2018 Warrants exercisable at $0.40 per share has been accelerated as a result of the fact that the Company's common shares have closed at a price of at least $0.60 for ten (10) consecutive trading days as of August 21, 2020. The remaining 2018 Warrants will expire if they are not exercised by September 23, 2020.

About Eskay Mining Corp:

Eskay Mining Corp (TSX-V:ESK) is a TSX Venture Exchange listed company, headquartered in Toronto, Ontario. Eskay is an exploration company focused on the exploration and development of precious and base metals along the Eskay rift in a highly prolific region of northwest British Columbia known as the "Golden Triangle," approximately 70km northwest of Stewart, BC. The Company currently holds mineral tenures in this area comprised of 177 claims (130,000 acres).

All material information on the Company may be found on its website at www.eskaymining.com and on SEDAR at www.sedar.com.

For further information, please contact:

Mac Balkam President & Chief Executive Officer	T: 416 907 4020 E: Mac@eskaymining.com

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.

Forward-Looking Statements: This Press Release contains forward-looking statements that involve risks and uncertainties, which may cause actual results to differ materially from the statements made. When used in this document, the words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" and similar expressions are intended to identify forward-looking statements. Such statements reflect our current views with respect to future events and are subject to risks and uncertainties. Many factors could cause our actual results to differ materially from the statements made, including those factors discussed in filings made by us with the Canadian securities regulatory authorities. Should one or more of these risks and uncertainties, such as actual results of current exploration programs, the general risks associated with the mining industry, the price of gold and other metals, currency and interest rate fluctuations, increased competition and general economic and market factors, occur or should assumptions underlying the forward looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, or expected. We do not intend and do not assume any obligation to update these forward-looking statements, except as required by law. Shareholders are cautioned not to put undue reliance on such forward-looking statements.

SOURCE: Eskay Mining Corp.

View source version on accesswire.com:
https://www.accesswire.com/602933/Eskay-Announces-Acceleration-of-2018-Warrant-Expiry-Date-to-September-23-2020

FAQ

What is the new expiry date for Eskay Mining's 2018 Warrants?

The new expiry date for Eskay Mining's 2018 Warrants is September 23, 2020.

Why has Eskay Mining accelerated the expiry date of its 2018 Warrants?

The expiry date was accelerated because Eskay Mining's shares closed above $0.60 for ten consecutive trading days.

How many 2018 Warrants does Eskay Mining have remaining?

Eskay Mining has 1,142,000 remaining 2018 Warrants.

What is the exercise price for the 2018 Warrants of Eskay Mining?

The exercise price for the 2018 Warrants is $0.40 per share.

Where can investors find more information about Eskay Mining Corp?

Investors can find more information on Eskay Mining's website and on SEDAR.