M3 Extends Warrant Term
M3 Metals Corp. (TSXV: MT) (OTCQB: MLGCF) has applied to the TSX Venture Exchange to amend certain share purchase warrants by extending their expiry date. The amendment affects 5 million warrants issued on February 7, 2023, originally expiring on February 7, 2025, with an exercise price of $0.32 per share. The new expiry date will be February 7, 2028, maintaining the same exercise price. Of these warrants, 1.95 million are held by related parties, constituting a related-party transaction under MI 61-101, though exemptions from formal valuation and minority approval requirements apply.
M3 Metals Corp. (TSXV: MT) (OTCQB: MLGCF) ha presentato una richiesta al TSX Venture Exchange per modificare alcune opzioni di acquisto di azioni prolungando la loro data di scadenza. La modifica riguarda 5 milioni di opzioni emesse il 7 febbraio 2023, che scadevano originariamente il 7 febbraio 2025, con un prezzo di esercizio di $0,32 per azione. La nuova data di scadenza sarà il 7 febbraio 2028, mantenendo lo stesso prezzo di esercizio. Di queste opzioni, 1,95 milioni sono detenute da parti correlate, costituendo una transazione con parti correlate ai sensi della MI 61-101, sebbene siano previste delle esenzioni dagli obblighi di valutazione formale e di approvazione da parte della minoranza.
M3 Metals Corp. (TSXV: MT) (OTCQB: MLGCF) ha presentado una solicitud a la TSX Venture Exchange para enmendar ciertos warrants de compra de acciones extendiendo su fecha de expiración. La enmienda afecta 5 millones de warrants emitidos el 7 de febrero de 2023, que originalmente expiraban el 7 de febrero de 2025, con un precio de ejercicio de $0.32 por acción. La nueva fecha de expiración será el 7 de febrero de 2028, manteniendo el mismo precio de ejercicio. De estos warrants, 1.95 millones son mantenidos por partes relacionadas, constituyendo una transacción entre partes relacionadas bajo la MI 61-101, aunque se aplican exenciones de valoración formal y requisitos de aprobación de minorías.
M3 Metals Corp. (TSXV: MT) (OTCQB: MLGCF)는 TSX Venture Exchange에 특정 주식 매수 워런트를 수정하기 위해 만료 날짜를 연장하는 신청을 하였습니다. 이 수정 사항은 2023년 2월 7일에 발행된 500만 개의 워런트에 영향을 미치며, 원래 만료日は 2025년 2월 7일이었고, 주당 행사 가격은 $0.32입니다. 새로운 만료 날짜는 2028년 2월 7일로 변경되며, 동일한 행사 가격을 유지합니다. 이 워런트 중 195만 개는 관련 당사자에 의해 보유되고 있으며, MI 61-101에 따른 관련 당사자 거래를 구성하지만 공식 평가와 소수 승인 요건의 면제가 적용됩니다.
M3 Metals Corp. (TSXV: MT) (OTCQB: MLGCF) a demandé au TSX Venture Exchange de modifier certains bons de souscription de droits en prolongeant leur date d'expiration. La modification concerne 5 millions de bons émis le 7 février 2023, dont l'expiration initiale était fixée au 7 février 2025, avec un prix d'exercice de 0,32 $ par action. La nouvelle date d'expiration sera le 7 février 2028, tout en maintenant le même prix d'exercice. Parmi ces bons, 1,95 million sont détenus par des parties liées, constituant une transaction entre parties liées au sens de la MI 61-101, bien que des exemptions aux exigences de valorisation formelle et d'approbation des minorités s'appliquent.
M3 Metals Corp. (TSXV: MT) (OTCQB: MLGCF) hat beim TSX Venture Exchange einen Antrag gestellt, um bestimmte Aktienkauf-Warrants zu ändern, indem das Verfallsdatum verlängert wird. Die Änderung betrifft 5 Millionen Warrants, die am 7. Februar 2023 ausgegeben wurden und ursprünglich am 7. Februar 2025 ablaufen sollten, mit einem Ausübungspreis von $0,32 pro Aktie. Das neue Verfallsdatum wird der 7. Februar 2028 sein, wobei der gleiche Ausübungspreis beibehalten wird. Von diesen Warrants werden 1,95 Millionen von verbundenen Parteien gehalten, was eine Transaktion mit verbundenen Parteien gemäß MI 61-101 darstellt, wobei jedoch Ausnahmen von den Anforderungen an formelle Bewertungen und die Genehmigung durch Minderheiten gelten.
- None.
- Warrant term extension may indicate challenges in raising capital through traditional means
- Related-party transaction with 1.95M warrants held by insiders raises potential conflict of interest concerns
West Vancouver, British Columbia--(Newsfile Corp. - October 24, 2024) - M3 Metals Corp. (TSXV: MT) (OTCQB: MLGCF) (FSE: X0V) (the "Company" or "M3 Metals") has applied to the TSX Venture Exchange for approval of an amendment to certain share purchase warrants issued pursuant to a private placement by extending the expiry date for three additional years.
The warrants affected are five million share purchase warrants issued on February 7, 2023, with an expiry date of February 7, 2025, and exercisable at 32 cents per common share. The new expiry date will be February 7, 2028, and the exercise price shall remain the same. The company will not be sending out new warrant certificates unless requested by the holder.
A total of 1,950,000 warrants are held by parties considered to be related parties of the company. Therefore, the warrant amendment constitutes a related-party transaction as contemplated by Multilateral Instrument 61-101 (Protection of Minority Shareholders in Special Transactions) and TSX-V Policy 5.9 (Protection of Minority Shareholders in Special Transactions). However, the exemptions from formal valuation and minority approval requirements provided for by these guidelines can be relied upon as the fair market value of the warrants held by insiders does not exceed 25 per cent of the market capitalization of the company.
The warrant amendment is subject to acceptance by the TSX Venture Exchange.
M3 Metals Corp. is a Canadian listed Company, focused on creating shareholder value through discoveries and strategic development of mineral properties in North America. For additional information please visit M3 Metals website at www.m3metalscorp.com. You may also email info@m3metalscorp.com or call investor relations at (604) 669-2279.
M3 METALS CORP.
"Kosta Tsoutsis"
Kosta Tsoutsis, CEO
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.
This document may contain certain "Forward-Looking Statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. When used in this news release, the words "anticipate", "believe", "estimate", "expect", "target, "plan" or "planned", "possible", "potential", "forecast", "intend", "may", "schedule" and similar words or expressions identify forward-looking statements or information. These forward-looking statements or information may relate to future prices of commodities including lithium, the accuracy of mineral or resource exploration activity, reserves or resources, regulatory or government requirements or approvals including approvals of title and mining rights or licenses and environmental, local community or indigenous community approvals, the reliability of third party information, continued access to mineral properties or infrastructure or water, changes in laws, rules and regulations including in Canada, the United States, Nevada or California or any other jurisdiction which may impact upon the Company or its properties or the commercial exploitation of those properties, currency risks including the exchange rate of USD$ for Cdn$ or other currencies, fluctuations in the market for lithium related products, changes in exploration costs and government royalties, export policies or taxes in the United States or any other jurisdiction and other factors or information. The Company's current plans, expectations, and intentions with respect to development of its business and of its properties may be impacted by economic uncertainties arising out of any pandemic or by the impact of current financial and other market conditions (including US government subsidies or incentives) on its ability to secure further financing or funding of its properties. Such statements represent the Company's current views with respect to future events and are necessarily based upon several assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political, environmental (including endangered species, habitat preservation and water related risks) and social risks, contingencies, and uncertainties. Many factors, both known and unknown, could cause results, performance, or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affecting such statements and information other than as required by applicable laws, rules, and regulations.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/227694
FAQ
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