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Nevada Sunrise Gold Corporation (TSXV:NEV) announced that it has applied to the TSX Venture Exchange to amend terms of an aggregate of 2,605,000 outstanding share purchase warrants. Amendments are for the following: 1,500,000 March 2014 Warrants – extension to March 20, 2017, and to reduce the exercise price from $0.55 cents to $0.50; 1,105,000 May 2014 Warrants – extension to May 13, 2017 and to reduce the exercise price from $1.35 to $0.50.
As quoted in the press release:
Nevada Sunrise has made application to the TSXV to amend the terms of the Warrants as follows:
to extend the term of 1,500,000 March 2014 Warrants for an additional year to March 20, 2017, and to reduce the exercise price from $0.55 cents to $0.50; and
to extend the term of 1,105,000 May 2014 Warrants for an additional two years to May 13, 2017, and, subject to the consent of the affected warrantholders, to reduce the exercise price from $1.35 to $0.50. In the case of the May 2014 Warrants, the amended exercise price will include an accelerated expiry clause such that the exercise period of the May 2014 Warrants will be reduced to 30 days if, for any ten consecutive trading days during the unexpired term (the “Premium Trading Days”), the closing price of the common shares of Nevada Sunrise exceeds the exercise price of the May 2014 Warrants by 25% or more. The reduced exercise period of 30 days will begin no more than 7 calendar days after the tenth Premium Trading Day.
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