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Canamex Resources Corp. (TSXV:CSQ,OTCQX:CNMXF) is seeking approval from the TSX Venture Exchange to reduce the exercise price of previously issued warrants.
As quoted in the press release:
…it is applying to the TSX Venture Exchange for approval to reduce the exercise price of previously issued warrants to purchase common shares of the Company, which warrants were originally issued as follows:
- Warrants issued April 4, 2011 to purchase a total of 5,000,000 shares (989,923 of which were to Insiders), exercisable at $0.25 per share from April 4, 2011 until April 3, 2013, which were subsequently extended to expire April 3, 2014. Of these warrants, 200,000 were exercised in 2012, leaving a balance of 4,800,000 outstanding (the “April 4 Warrants”); and
- Warrants issued April 29, 2011 to purchase 1,500,000 shares, exercisable at $0.25 per share from April 29, 2011 until April 28, 2013, which were subsequently extended to expire April 28, 2014. Of these warrants, 400,000 were exercised in 2012, leaving a balance of 1,100,000 outstanding (the “April 29 Warrants”).
Click here to read the Canamex Resources Corp. (TSXV:CSQ,OTCQX:CNMXF) press release
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