NovX21 (TSXV:NOV) announced it will extend the expiration date of warrants issued in a private placement which closed on March 22nd, 2013, by two years at the exercise price of $0.20.
As quoted in the press release:
NovX21 (TSX VENTURE:NOV) announces that, subject to required approvals from regulatory authorities, the Corporation will extend the expiration date of warrants issued in a private placement which closed on March 22nd, 2013, by two years at the exercise price of $0.20.
Each Warrant shall entitle the holder thereof to acquire one common share of the Corporation at a price of $0.20 until March 22nd 2017.
The warrants will be subject to an accelerator clause by which the warrant expiry date can be shortened at the choice of the Corporation if the share price closes on the Exchange at $0.25 or more for a period of more than twenty (20) consecutive trading days. In such a case, the new expiry date will be presumed to be the thirtieth day following the formal written notification by the Corporation.
“We are actively in discussions with a number of financial partners for the construction of a commercial plant in Quebec for the recycling of precious metals of the platinum group. We want to bring this project to fruition”, said Sylvain Boulanger, President and chief executive officer of NovX21.