Jade Leader Receives Approval To Extend Warrants

Rhea-AI Summary

Jade Leader Corp. (TSXV:JADE) announces the approval of extending the term of certain warrants and reducing the exercise price. The TSX Venture Exchange has approved the extension of 1,607,142 Warrants until November 17, 2025, and the repricing of the warrants from $0.14 per share to $0.07 per share, with an acceleration clause. None of the warrants are held by insiders.

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CALGARY, AB / ACCESSWIRE / November 14, 2023 / Jade Leader Corp. (TSXV:JADE) ("Jade Leader", or "the Company") announces that the TSX Venture Exchange has approved extending the term of certain warrants (the "Warrants") and reducing the exercise price from $0.14 per share to $0.07 with an accelerator clause.

Warrant Repricing and Extension

The Company has extended the expiry date of 1,607,142 Warrants granted on November 17, 2021 with each Warrant entitling the holder to purchase one common share of the Company until November 17, 2025.

In addition, the Company has repriced the 1,607,142 warrants from $0.14 per share to $0.07 per share. The Warrants have also been revised to include an acceleration clause such that the term of the Warrants will be reduced to 30 days (the "Reduced Term") in the event the closing price of the Common Shares on the TSX Venture Exchange exceeds $0.07 by 25% or more for ten consecutive trading dates (the "Premium Trading Days"). The Reduced Term would commence on the third business day after the tenth Premium Trading Day. None of the warrants are held by insiders.

The Company does not intend to file a material change report in respect of the extension.

About Jade and Jade Leader Corp.

Recent articles suggest that the international Jade market is now larger than the better known worldwide market for rough diamonds, without any participation in the space by publicly listed Companies prior to the formation of Jade Leader Corp.

Jade leader is leveraging this unique combination of mineral exploration expertise and Jade carving knowledge to build a portfolio of 6 Jade exploration properties on which Nephrite Jade with various characteristics has now been identified in stable, mining-friendly jurisdictions in the USA.

On Behalf of the Board of Directors,

"Jean-Pierre Jutras"
Jean-Pierre Jutras, President/Director

For Further Information Contact:
info@jadeleader.ca
Instagram: @jadeleadercorp
YouTube Channel: Jade Leader Corp.
www.jadeleader.ca
Or Jean Pierre Jutras, President
at 1.403.233.0464

Jade Shop: www.jadeleader.shop

The TSX Venture Exchange has neither approved nor disapproved of the contents of this press release.

Except for the historical and present factual information contained herein, the matters set forth in this news release, including words such as "expects", "projects", "plans", "anticipates" and similar expressions, are forward-looking information that represents management of Jade Leader's internal projections, expectations or beliefs concerning, among other things, future operating results and various components thereof or the economic performance of Jade Leader. The projections, estimates and beliefs contained in such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause Jade Leader's actual performance and financial results in future periods to differ materially from any projections of future performance or results expressed or implied by such forward-looking statements. These risks and uncertainties include, among other things, those described in Jade Leader's filings with the Canadian securities authorities. Accordingly, holders of Jade Leader shares and potential investors are cautioned that events or circumstances could cause results to differ materially from those predicted. Jade Leader disclaims any responsibility to update these forward-looking statements.

SOURCE: Jade Leader Corp.

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FAQ

What is the latest announcement from Jade Leader Corp. (TSXV:JADE)?

Jade Leader Corp. (TSXV:JADE) has announced the approval of extending the term of certain warrants and reducing the exercise price from $0.14 per share to $0.07 per share, with an acceleration clause.

How many warrants have been extended and until when?

1,607,142 warrants have been extended until November 17, 2025.

What is the revised exercise price of the warrants?

The exercise price of the warrants has been reduced from $0.14 per share to $0.07 per share.

What is the acceleration clause in the revised warrants?

The warrants include an acceleration clause that reduces the term to 30 days if the closing price of the Common Shares on the TSX Venture Exchange exceeds $0.07 by 25% or more for ten consecutive trading dates.

Are any of the warrants held by insiders?

None of the warrants are held by insiders.