European Energy Metals Announces Proposed Warrant Repricing
European Energy Metals (TSXV: FIN) announces plans to amend the exercise price of 6,011,677 common share purchase warrants from $0.75 to $0.25. The warrants were issued through private placements completed between June and October 2023. If the company's shares exceed $0.3125 for ten consecutive trading days, the exercise period will reduce to 30 days. The repricing requires both TSX Venture Exchange approval and warrant holders' consent.
European Energy Metals (TSXV: FIN) annuncia l'intenzione di modificare il prezzo di esercizio di 6.011.677 warrant per l'acquisto di azioni ordinarie, passando da $0,75 a $0,25. I warrant sono stati emessi attraverso collocamenti privati completati tra giugno e ottobre 2023. Se le azioni della società superano $0,3125 per dieci giorni di negoziazione consecutivi, il periodo di esercizio si ridurrà a 30 giorni. La modifica del prezzo richiede sia l'approvazione della Borsa TSX Venture che il consenso dei titolari dei warrant.
European Energy Metals (TSXV: FIN) anuncia planes para modificar el precio de ejercicio de 6.011.677 warrants de compra de acciones comunes de $0,75 a $0,25. Los warrants fueron emitidos a través de colocaciones privadas finalizadas entre junio y octubre de 2023. Si las acciones de la compañía superan $0,3125 durante diez días de negociación consecutivos, el período de ejercicio se reducirá a 30 días. La revalorización requiere tanto la aprobación de la Bolsa de Valores de TSX Venture como el consentimiento de los titulares de warrants.
European Energy Metals (TSXV: FIN)은 6,011,677개의 보통주 매수 워런트의 행사 가격을 $0.75에서 $0.25로 변경할 계획을 발표했습니다. 이 워런트는 2023년 6월부터 10월 사이에 완료된 사모 배정을 통해 발행되었습니다. 회사의 주가가 연속 10거래일 동안 $0.3125를 초과할 경우, 행사 기간은 30일로 단축됩니다. 가격 조정은 TSX 벤처 거래소의 승인과 워런트 보유자의 동의를 모두 필요로 합니다.
European Energy Metals (TSXV: FIN) annonce son intention de modifier le prix d'exercice de 6.011.677 bons de souscription d'actions ordinaires, passant de 0,75 $ à 0,25 $. Les bons ont été émis lors de placements privés réalisés entre juin et octobre 2023. Si les actions de l'entreprise dépassent 0,3125 $ pendant dix jours de négociation consécutifs, la période d'exercice sera réduite à 30 jours. La modification du prix nécessite l'approbation de la Bourse TSX Venture ainsi que le consentement des détenteurs de bons.
European Energy Metals (TSXV: FIN) gibt bekannt, dass die Ausübungspreise von 6.011.677 Kaufwarrants für Stammaktien von 0,75 $ auf 0,25 $ geändert werden sollen. Die Warrants wurden durch Privatplatzierungen ausgegeben, die zwischen Juni und Oktober 2023 abgeschlossen wurden. Wenn die Aktien des Unternehmens an zehn aufeinander folgenden Handelstagen 0,3125 $ überschreiten, wird die Ausübungfrist auf 30 Tage verkürzt. Die Anpassung des Preises erfordert sowohl die Genehmigung der TSX Venture Exchange als auch die Zustimmung der Warranthalter.
- Warrant repricing from $0.75 to $0.25 could incentivize warrant exercise and potential capital inflow
- Strategic location near Keliber mine complex with €600M investment underway
- Projects located in established mining region with major industry players
- Warrant repricing indicates potential challenges in raising capital at original terms
- Significant price reduction (66.7%) in warrant exercise price may signal market weakness
Vancouver, British Columbia--(Newsfile Corp. - October 28, 2024) - European Energy Metals (TSXV: FIN) (FSE: W28) ("European Energy Metals" or the "Company") announces that, subject to approval of the TSX Venture Exchange and the holders thereof, the Company intends to amend the exercise price of an aggregate of 6,011,677 common share purchase warrants (the "Warrants") that were issued pursuant to the Company's private placements that completed on June 30, 2023, July 4, 2023 and October 20, 2023.
The Warrants had an original price of
In addition to the approval of the TSX Venture Exchange, the proposed repricing of the Warrants is also subject to receipt of a consent from each holder of the Warrants.
About Grit Metals Corp.
Grit Metals Corp. is a junior mining company currently focussed on the Lithium-Cesium-Tantalum Finnish Pegmatite Project in central Finland. Governing bodies in Europe and Finland are legislating environmentally friendly and energy independent laws and policies. One of the key components is access to REE and, specifically, lithium. The company's exploration licenses are located within 1 kms of the Keliber mine and production complex, currently under construction and expected to begin production in H2 2025.
An estimated €600 million investment by Keliber's parent company Sibanye-Stillwater Limited in partnership with the Finnish Minerals Group (www.mineralsgroup.fi) is underway in the Kautinen Region and will see the development of open-pit and underground mining from several deposits, construction of a central spodumene concentrator plant and a lithium hydroxide chemical plant at tidewater in Kokkola. When completed, this complex will comprise a complete hard-rock spodumene pegmatite lithium supply chain (source: www.sibanyestillwater.com).
The Company also has several 100 percent owned precious metals projects in Northern Finland. They are located in the Paleo-Proterozoic Greenstone Terrane of Northern Finland comprised of multiple greenstone belts including the CLGB which hosts world-class gold (eg Kittila Deposit, owned by Agnico Eagle and Ikkari Deposit, owned by Rupert Resources) and base metal deposits (eg Kevitsa owned by Boliden and Sakatti owned by Aglo-American). The belt's potential is also suggested by the presence of several major mining companies in the belt. The belt has very recently garnered significant interest following an offer from Rupert Resources to buy B2Gold's
FOR FURTHER INFORMATION PLEASE CONTACT:
Jeremy Poirier, CEO
Telephone: 604-722-9842
Email: info@europeanenergymetals.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.
Cautionary Statements Regarding Forward Looking Information
This news release contains forward-looking information within the meaning of applicable securities legislation. Forward-looking information is typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate and similar expressions, or are those, which, by their nature, refer to future events. Such statements include, without limitation, statements regarding the proposed repricing of the Warrants. Although the Company believes that such statements are reasonable, it can give no assurances that such expectations will prove to be correct. All such forward-looking information is based on certain assumptions and analyses made by the Company in light of their experience and perception of historical trends, current conditions and expected future developments, as well as other factors management believes are appropriate in the circumstances. This information, however, is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. Important factors that could cause actual results to differ from this forward-looking information include the failure of the Company to receive approval of the TSX Venture Exchange or approval of the holders of the Warrants. The Company does not intend, and expressly disclaims any obligation to, update or revise the forward-looking information contained in this news release, except as required by law. Readers are cautioned not to place undue reliance on forward-looking information.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/228136
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