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Kivalliq Energy Corporation (TSXV:KIV) has been granted approval by the TSX Venture Exchange to extend the expiry dates of 15,149,333 outstanding common share purchase warrants, exercisable at $0.50 per common share, currently scheduled to expire on April 2, 2015.
As quoted in the press release:
Kivalliq Energy Corporation (TSX VENTURE: KIV) (Kivalliq) today announced it has applied to the TSX Venture Exchange for approval to extend the expiry dates, by one year, 15,149,333 outstanding common share purchase warrants, exercisable at $0.50 per common share, currently scheduled to expire on April 2, 2015. Insiders of the Company do not hold any warrants to be amended.
The warrants have also been amended to include an acceleration clause, whereby, if the weighted average trading price of Kivalliq’s shares on the Exchange is at a price equal to or greater than $0.75 for a period of 20 consecutive trading days, Kivalliq will have the right to accelerate the expiry date of the Warrants. Kivalliq will give written notice to the holders of the Warrants that the Warrants will expire within 30 days of the date of notice to the Warrant holders.
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