Tsodilo Resources Limited Announces Warrant Extension
Tsodilo Resources Limited (TSX-V:TSD)(OTCQB:TSDRF) announced an extension of the expiry dates for 2,804,055 common share purchase warrants, subject to TSX-V approval. Originally set to expire on January 25 and February 10, 2023, the new expiry dates are July 25, 2023, and August 23, 2023, respectively. The warrants were part of a public offering that closed on February 10, 2023, where the company issued 2,986,038 units at C$0.50 each, each consisting of one common share and one warrant exercisable at USD$0.55.
- Extension of warrant expiry dates allows potential for increased capital upon exercise.
- Original public offering was successful with 2,986,038 units sold.
- Warrant extensions may indicate challenging market conditions for immediate capital needs.
- The delays in warrant exercise could hinder short-term liquidity.
TORONTO, ON / ACCESSWIRE / December 21, 2022 / Tsodilo Resources Limited ("Tsodilo" or the "Company") (TSX-V:TSD)(OTCQB:TSDRF)(FSE:TZO) announces subject to receipt of required acceptance from the TSX-V, the Company will extend the expiry of a total of 2,804,055 outstanding common share purchase warrants (the "Warrants"). The Warrants were issued pursuant to a public offering which closed on February 10, 2023, to which the Company issued 2,986,038 units of the Company (each, a "Unit") at a price of C
About Tsodilo Resources Limited
Tsodilo Resources Limited is an international diamond and metals exploration company engaged in the search for economic diamond, metal deposits and industrial stone at its Bosoto (Pty) Limited ("Bosoto"), Gcwihaba Resources (Pty) Limited ("Gcwihaba") and Newdico (Pty) Ltd. ("Newdico) projects in Botswana. The Company has a
FOR FURTHER INFORMATION, PLEASE CONTACT:
| James M. Bruchs | Chairman and Chief Executive Officer | JBruchs@TsodiloResources.com |
| Telephone +1 416 800 2124 | Facsimile + 1 416 987 4369 | |
| Website | www.TsodiloResources.com |
This press release may contain forward-looking statements. All statements, other than statements of historical fact, that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future (including, without limitation, statements pertaining to the use of proceeds, the impact of strategic partnerships and statements that describe the Company's future plans, objectives or goals) are forward- looking statements. These forward-looking statements reflect the current expectations or beliefs of the Company based on information currently available to the Company. Forward- looking statements are subject to a number of risks and uncertainties that may cause the actual results of the Companyto differ materially from those discussed in the forward-looking statements, and even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on the Company. Factors that could cause actual results or events to differ materially from current expectations include, among other things, changes in equity markets, changes in general economic conditions, market volatility, political developments in Botswana and surrounding countries, changes to regulations affecting the Company's activities, uncertainties relating to the availability and costs of financing needed in the future, exploration and development risks, the uncertainties involved in interpreting exploration results and the other risks involved in the mineral exploration business. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Although the Company believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not a guarantee of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein.
Forward-looking statements are subject to a number of risks and uncertainties that may cause the actual results of the Company to differ materially from those discussed in the forward-looking statements and, even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on, the Company. Factors that could cause actual results or events to differ materially from current expectations include, among other things, uncertainties relating to availability and cost of funds, timing and content of work programs, results of exploration activities, interpretation of drilling results and other geological data, risks relating to variations in the diamond grade and kimberlite lithologies; variations in rates of recovery and breakage; estimates of grade and quality of diamonds, variations in diamond valuations and future diamond prices; the state of world diamond markets, reliability of mineral property titles, changes to regulations affecting the Company's activities, delays in obtaining or failure to obtain required project approvals, operational and infrastructure risk and other risks involved in the diamond exploration and development business. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Although the Company believes that the assumptions inherent in the forward- looking statements are reasonable, forward-looking statements are not a guarantee of future performance and accordingly undue reliance should not be put on such statements due to their inherent uncertainty.
Neither the TSX Venture Exchange ("TSXV") nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this news release. This news release may contain assumptions, estimates, and other forward-looking statements regarding future events. Such forward-looking statements involve inherent risks and uncertainties and are subject to factors, many of which are beyond the Company's control, which may cause actual results or performance to differ materially from those currently anticipated in such statements.
SOURCE: Tsodilo Resources Limited
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FAQ
What is the purpose of Tsodilo Resources' warrant extension?
When do the Tsodilo Resources warrants now expire?
What was the initial exercise price for the Tsodilo Resources warrants?
How many warrants were affected by Tsodilo Resources' extension announcement?
