RJK to Extend Warrant Terms
RJK Explorations (TSXV: RJX.A) has announced plans to amend 900,000 outstanding common share purchase warrants originally issued in December 2021. The key changes include extending the expiration date from December 31, 2024, to December 31, 2026, and reducing the exercise price from $0.25 to $0.10 for 590,000 warrants. Of the total warrants, 400,000 are held by an insider, with only 90,000 eligible for exercise price amendment per Exchange policy. The amendments require warrant holders' consent and Exchange approval.
The company also disclosed that insiders participated in a previously announced private placement for $130,000. Both the warrant amendments and insider participation qualify as related party transactions but are exempt from certain requirements under MI 61-101.
RJK Explorations (TSXV: RJX.A) ha annunciato piani per modificare 900.000 diritti di acquisto di azioni ordinarie attualmente in circolazione, originariamente emessi nel dicembre 2021. Le principali modifiche includono l'estensione della data di scadenza dal 31 dicembre 2024 al 31 dicembre 2026 e la riduzione del prezzo di esercizio da $0,25 a $0,10 per 590.000 diritti. Dei diritti totali, 400.000 sono detenuti da un insider, con solo 90.000 idonei per la modifica del prezzo di esercizio secondo le politiche di Borsa. Le modifiche richiedono il consenso dei detentori di diritti e l'approvazione della Borsa.
L'azienda ha anche rivelato che gli insider hanno partecipato a un collocamento privato precedentemente annunciato per $130.000. Sia le modifiche ai diritti che la partecipazione degli insider sono considerati transazioni con parti correlate, ma sono esenti da alcuni requisiti ai sensi della MI 61-101.
RJK Explorations (TSXV: RJX.A) ha anunciado planes para enmendar 900,000 warrants de compra de acciones ordinarias que fueron emitidos originalmente en diciembre de 2021. Los cambios clave incluyen la extensión de la fecha de vencimiento del 31 de diciembre de 2024 al 31 de diciembre de 2026, y la reducción del precio de ejercicio de $0.25 a $0.10 para 590,000 warrants. De los warrants totales, 400,000 son poseídos por un insider, con solo 90,000 elegibles para la enmienda del precio de ejercicio según la política de la Bolsa. Las enmiendas requieren el consentimiento de los tenedores de warrants y la aprobación de la Bolsa.
La empresa también reveló que los insiders participaron en una colocación privada previamente anunciada por $130,000. Tanto las enmiendas de warrants como la participación de insider califica como transacciones con partes relacionadas, pero están exentas de ciertos requisitos bajo la MI 61-101.
RJK Explorations (TSXV: RJX.A)는 2021년 12월에 원래 발행된 900,000개의 일반 주식 매수권을 수정할 계획을 발표했습니다. 주요 변경 사항은 만료 날짜를 2024년 12월 31일에서 2026년 12월 31일로 연장하고, 590,000개의 매수권에 대한 행사 가격을 $0.25에서 $0.10으로 인하하는 것입니다. 총 매수권 중 400,000개는 내부자가 보유하고 있으며, 90,000개만이 거래소 정책에 따라 행사 가격 변경 자격이 있습니다. 이러한 수정은 매수권 보유자의 동의와 거래소의 승인을 필요로 합니다.
회사는 또한 내부자들이 이전에 발표된 $130,000 규모의 사모 펀드에 참여했다는 사실을 공개했습니다. 매수권 수정과 내부자 참여는 모두 관련 당사자 거래로 간주되지만, MI 61-101에 따른 특정 요구 사항에서 면제됩니다.
RJK Explorations (TSXV: RJX.A) a annoncé des plans pour modifier 900 000 bons de souscription d'actions ordinaires en circulation, émis à l'origine en décembre 2021. Les principales modifications comprennent le prolongement de la date d'expiration du 31 décembre 2024 au 31 décembre 2026, et la réduction du prix d'exercice de 0,25 $ à 0,10 $ pour 590 000 bons. Parmi les bons totaux, 400 000 sont détenus par un insider, avec seulement 90 000 éligibles pour la modification du prix d'exercice selon la politique de la Bourse. Les modifications requièrent le consentement des détenteurs de bons et l'approbation de la Bourse.
L'entreprise a également divulgué que des insiders ont participé à un placement privé précédemment annoncé pour 130 000 $. Tant les modifications des bons que la participation des insiders sont considérées comme des transactions avec des parties liées, mais sont exemptées de certaines exigences en vertu de la MI 61-101.
RJK Explorations (TSXV: RJX.A) hat Pläne angekündigt, 900.000 ausstehende Kaufwarrants für Stammaktien, die ursprünglich im Dezember 2021 ausgegeben wurden, zu ändern. Die wichtigsten Änderungen umfassen die Verlängerung des Fälligkeitsdatums von 31. Dezember 2024 auf 31. Dezember 2026 und die Senkung des Ausübungspreises von 0,25 $ auf 0,10 $ für 590.000 Warrants. Von den insgesamt Warrants werden 400.000 von einem Insider gehalten, wobei nur 90.000 gemäß der Börsenpolitik für die Anpassung des Ausübungspreises in Frage kommen. Die Änderungen erfordern das Einverständnis der Warrant-Inhaber sowie die Genehmigung durch die Börse.
Das Unternehmen gab auch bekannt, dass Insider an einer zuvor angekündigten Privatplatzierung über 130.000 $ teilgenommen haben. Sowohl die Warrantanpassungen als auch die Teilnahme der Insider qualifizieren sich als Transaktionen mit nahestehenden Personen, sind jedoch von bestimmten Anforderungen gemäß MI 61-101 ausgenommen.
- None.
- Warrant exercise price reduction from $0.25 to $0.10 indicates potential share value decline
- Extension of warrant expiration date by 2 years suggests company needs more time to achieve objectives
- Significant insider holdings (400,000 warrants) could impact market dynamics
Kirkland Lake, Ontario--(Newsfile Corp. - December 6, 2024) - RJK Explorations Ltd. (TSXV: RJX.A) ("RJK" or the "Company") announces that the Company intends to amend a total of 900,000 outstanding common share purchase warrants (the "Warrants") previously issued pursuant to the Company's non-brokered private placement that closed December 31, 2021 (the "Private Placement").
The Warrants are currently exercisable at a price of
400,000 Warrants (the "Insider Warrants") are held by an insider of the Company, and pursuant to TSX Venture Exchange (the "Exchange") policy, only 90,000 of the Insider Warrants are eligible for exercise price amendment.
The amendment of the Warrants is subject to the prior consent of all Warrant holders and the approval ("Warrant Amendment Approval") and the approval of Exchange. Upon receipt of such approvals, the Warrants will be deemed to be amended to adjust their term and, where applicable, their exercise price, accordingly. The Warrants that have their exercise price reduced pursuant to the Warrant Amendments will also be deemed to have been amended to include an acceleration provision whereby, if for any ten (10) consecutive trading days following the Warrant Amendments the closing price of the Company's common shares ("Common Shares") exceeds
The Company intends to issue an updating news release upon receipt, if any, of Warrant Amendment approval.
The application of the Warrant Amendments to the Insider Warrants constitutes a "related party transaction" within MI 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"), but are exempt from the MI 61 101 valuation and minority approval requirements for related party transactions in connection with the Offering under sections 5.5(a) and 5.7(1)(a) of MI 61-101 as neither the fair market value (as determined under MI 61-101) of the subject matter of, nor the fair market value of the consideration for, the transaction, insofar as it involved the Related Parties, exceeds
Further to the Company's news release of November 7, 2024, announcing the closing of its private placement, the Company confirms that certain insiders of the Company participated in the Offering, for an aggregate subscription amount of
Contact Information
Glenn Kasner, CEO
Mobile: (705) 568-7567
Email: info@rjkexplorations.com
Web Site: https://www.rjkexplorations.com
Company Information: Tel: (705) 568-7445
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 Information
This news release includes certain forward-looking statements, which may include, but are not limited to, statements concerning the TSX Venture Exchange acceptance of the warrant extension. Any statements contained herein that are not statements of historical facts may be deemed to be forward-looking, including those identified by the expressions "will", "anticipate", "believe", "plan", "estimate", "expect", "intend", "propose" and similar expressions. Forward-looking statements involve known and unknown risks and uncertainties that could cause actual results, performance, or achievements to differ materially from those expressed or implied in this news release. Factors that could cause actual results to differ materially from those anticipated in this news release include, but are not limited to, the Company not receiving TSX Venture Exchange acceptance or Warrant holder approval of the proposed warrant extension and repricing. RJK assumes no obligation to update the forward-looking statements or to update the reasons why actual results could differ from those reflected in the forward-looking statements except as required by applicable law.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/232882
FAQ
What changes is RJK Explorations making to its warrants in December 2024?
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What is the acceleration provision in RJK Explorations' warrant amendments?
