Simba Energy Inc. (TSXV:SMB,FWB:GDA,OTCCBB:SMBZF) reported the Board of Directors intend to re-price 21,161,250 share purchase warrants issued on January 20, 2011, subject to approval.
As quoted in the press release:
The warrants were issued pursuant to a private placement of 42,322,500 units at $0.08 per unit, each unit consisting of one common share and one-half of one share purchase warrant, each whole warrant exercisable into one common share at $0.16 per share until January 20, 2012. Upon acceptance of the TSX Venture Exchange, the new exercise price of the warrants will be $0. 11 with the expiry date remaining at January 20, 2012.