Lara Exploration Announces Warrant Expiry Acceleration
Lara Exploration (TSXV: LRA) has announced the acceleration of expiry for outstanding common share purchase warrants and broker warrants, both exercisable at C$1.00 per share. The warrants, issued through a private placement on June 17, 2022, will now expire on November 26, 2024. This acceleration follows 10 consecutive trading days where share prices exceeded C$1.20. Currently, 2,650,933 warrants remain unexercised, potentially raising C$2,650,933 if fully exercised. The proceeds will primarily fund the development of the Planalto Copper-Gold Project in Brazil, with potential to raise the company's treasury to approximately $6 million.
Lara Exploration (TSXV: LRA) ha annunciato l'accelerazione della scadenza per i warrant di acquisto di azioni comuni e i warrant dei broker ancora in essere, entrambi esercitabili a C$1,00 per azione. I warrant, emessi tramite un posizionamento privato il 17 giugno 2022, scadranno ora il 26 novembre 2024. Questa accelerazione segue 10 giorni di negoziazione consecutivi in cui il prezzo delle azioni ha superato C$1,20. Attualmente, rimangono 2.650.933 warrant non esercitati, che potrebbero generare C$2.650.933 se completamente esercitati. I proventi finanzieranno principalmente lo sviluppo del Progetto Rame-Oro Planalto in Brasile, con il potenziale di portare le riserve aziendali a circa 6 milioni di dollari.
Lara Exploration (TSXV: LRA) ha anunciado la aceleración del vencimiento de las opciones de compra de acciones comunes y de los warrants de intermediarios, ambos ejercitables a C$1.00 por acción. Los warrants, emitidos a través de una colocación privada el 17 de junio de 2022, ahora vencerán el 26 de noviembre de 2024. Esta aceleración se produce tras 10 días de negociación consecutivos en los que los precios de las acciones superaron C$1.20. Actualmente, permanecen 2,650,933 warrants sin ejercitar, que podrían recaudar hasta C$2,650,933 si se ejercen por completo. Los ingresos se destinarán principalmente al desarrollo del Proyecto Cobre-Oro Planalto en Brasil, con el potencial de aumentar la tesorería de la empresa a aproximadamente 6 millones de dólares.
라라 탐사 (TSXV: LRA)가 C$1.00의 가격으로 거래되는 일반 주식 구매 권리증서와 중개인 권리증서의 만료를 가속화한다고 발표했습니다. 이 권리증서는 2022년 6월 17일의 사모 발행을 통해 발행되었으며, 이제 2024년 11월 26일에 만료됩니다. 이 가속화는 주가가 10Trading일 연속으로 C$1.20를 초과한 뒤에 이루어진 것입니다. 현재 2,650,933개의 권리가 미행사 상태로 남아 있으며, 모두 행사될 경우 최대 C$2,650,933를 모금할 수 있습니다. 발생한 수익은 주로 브라질의 플라날토 구리-금 프로젝트 개발에 사용될 것이며, 기업의 재무를 약 600만 달러로 늘릴 수 있는 잠재력을 가지고 있습니다.
Lara Exploration (TSXV: LRA) a annoncé l'accélération de l'expiration des bons de souscription d'actions ordinaires et des bons de courtage, tous deux exerçables à C$1,00 par action. Les bons de souscription, émis par le biais d'un placement privé le 17 juin 2022, expireront désormais le 26 novembre 2024. Cette accélération fait suite à 10 jours de cotation consécutifs où le prix des actions a dépassé C$1,20. Actuellement, 2 650 933 bons de souscription restent non exercés, ce qui pourrait potentiellement lever C$2 650 933 s'ils étaient entièrement exercés. Les fonds récoltés serviront principalement à financer le développement du Projet Cuivre-Or Planalto au Brésil, avec un potentiel d'augmenter la trésorerie de l'entreprise à environ 6 millions de dollars.
Lara Exploration (TSXV: LRA) hat die Beschleunigung des Ablaufs von ausstehenden Kaufwarrants für Stammaktien und Broker-Warrants angekündigt, die beide mit C$1,00 pro Aktie ausgeübt werden können. Die Warrant wurden am 17. Juni 2022 im Rahmen einer privaten Platzierung ausgegeben und laufen nun am 26. November 2024 ab. Diese Beschleunigung folgt auf 10 aufeinanderfolgende Handelstage, an denen die Aktienpreise C$1,20 überstiegen. Derzeit bleiben 2.650.933 Warrants ungenutzt, was potenziell C$2.650.933 einbringen könnte, wenn sie vollständig ausgeübt werden. Die Erlöse werden hauptsächlich die Entwicklung des Planalto Kupfer-Gold-Projekts in Brasilien finanzieren und könnten die Unternehmensreserven auf etwa 6 Millionen Dollar erhöhen.
- Potential to raise C$2.65 million through warrant exercise
- Treasury could increase to approximately $6 million if all warrants are exercised
- Company's share price has shown strong performance, exceeding C$1.20 for 10 consecutive days
- No guarantee that all warrants will be exercised, creating funding uncertainty
- Early warrant expiration may pressure holders to make immediate investment decisions
Vancouver, British Columbia--(Newsfile Corp. - October 28, 2024) - Lara Exploration Ltd. (TSXV: LRA) ("Lara" or the "Company") announces today that it is electing to accelerate the expiry of outstanding common share purchase warrants of the Company exercisable at C
Commented Miles Thompson, Chairman of Lara: "With some shareholders, including myself, already exercising their warrants, it makes sense for us to now accelerate the expiry of the remainder. As always, we are grateful for the continued support of our team, shareholders and warrant holders as we enter this exciting new phase."
Commented Dr. Simon Ingram, President and CEO of Lara: "Full exercise of these warrants would raise our treasury to approximately
Pursuant to the terms of the Warrants, the Company may accelerate the expiry date of the Warrants after October 17, 2022 if the closing price of the Company's common shares on the TSX Venture Exchange equals or exceeds C
As of October 24th, 2024, 2,650,933 Warrants (including 9,760 broker warrants) to purchase common shares have yet to be exercised. Accordingly, if all of the outstanding Warrants are exercised, gross proceeds to the Company will total approximately C
Holders may exercise the Warrants before the Expiry Date by observing the process as set out in the Warrant certificates.
About Lara Exploration
Lara is an exploration company following the Prospect and Royalty Generator business model, which aims to minimize shareholder dilution and financial risk by generating prospects and exploring them in joint ventures funded by partners, retaining a minority interest and or a royalty. The Company currently holds a diverse portfolio of prospects, deposits and royalties in Brazil, Peru and Chile. Lara's common shares trade on the TSX Venture Exchange under the symbol "LRA".
For further information on Lara Exploration Ltd. please consult our website www.laraexploration.com, or contact Chris MacIntyre, VP Corporate Development, at +1 416 703 0010.
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. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
Cautionary Statement on Forward-Looking Information
This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation based on expectations, estimates and projections as at the date of this news release. Any statement that involves predictions, expectations, interpretations, beliefs, plans, projections, objectives, assumptions, future events or performance are not statements of historical fact and constitute forward-looking information. This news release may contain forward-looking information pertaining to the Planalto Copper-Gold Project, including, among other things, the ability to identify additional resources and reserves (if any) and exploit such resources and reserves on an economic basis; the preparation of a Preliminary Economic Assessment; the conduct of additional drilling; and upgrading of current mineral resource estimates.
Forward-looking information is not a guarantee of future performance and is based upon a number of estimates and assumptions of management, in light of management's experience and perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances, including, without limitation, assumptions about: favourable equity and debt capital markets; the ability and timing of funding to advance the development of the Planalto Project and pursue planned exploration and development; future spot prices of copper, gold and other minerals; the timing and results of exploration and drilling programs; the accuracy of mineral resource estimates; production costs; political and regulatory stability; the receipt of governmental and third party approvals; licenses and permits being received on favourable terms; sustained labour stability; stability in financial and capital markets; availability of mining equipment and positive relations with local communities and groups. There is no assurance that all or any of the Warrants will be exercised. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Factors that could cause actual results to differ materially from such forward-looking information are set out in the Company's public disclosure record on SEDAR+ (www.sedarplus.ca) under the Company's issuer profile. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward- looking information, whether as a result of new information, future events or otherwise, other than as required by law.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/227924
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