Waseco Resources Announces Warrant Extension
03 Julio 2020 - 8:37AM
Waseco Resources Inc. (“Waseco” or the “Company”-TSX-V: WRI)
announced today that the Company will be extending the exercise
period of a total 705,000 share purchase warrants, each of which is
exercisable at $0.075 per share (collectively the
“Warrants”). The Warrants were issued pursuant to a private
placement which closed on July 5th, 2019. The Company
proposes to extend the expiry date for all Warrants by six (6)
months, and accordingly, the new expiry date is January 5th,
2021. All other terms and conditions of the warrants remain
unchanged. The Warrant extension is subject to acceptance by
the TSX Venture Exchange. A portion of the Warrants are held
by a party who is considered to be a “related party” of the
Company. Therefore, the amendment of the Warrants constitutes
a related party transaction as contemplated by Instrument 61-101
Protection of Minority Shareholders in Special Transactions and
TSXV Policy 5.9- Protection of Minority Shareholders in Special
Transactions. However, the exemption from formal
valuation and minority approval requirements provided for by these
guidelines can be relied upon as the fair market value of the
Warrants does not exceed 25% of the market capitalization of the
Company. A material change report in respect of this related
party transaction will be filed by the Company.
Waseco is an exploration company focused on
exploring for gold in Nevada. The Company is listed on the
TSX Venture Exchange (“WRI”) and the Frankfurt Stock Exchange
(“WSE”). There are currently 41,681,390 shares issued and
outstanding.
For further information on the Company, please
visit the Waseco web site at www.wasecoresources.com or contact
Richard Williams at (416) 364-3123- e-mail:
rickw@wasecoresources.com.
On Behalf of the Board of
Directors
Richard Williams
President & C.E.O.
Neither the TSX Venture Exchange nor its
regulatory service providers as that term is defined in the
policies of the TSX Venture Exchange accepts responsibility of the
accuracy or adequacy of this release.
We seek safe harbour.
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