Desert Mountain warrants to trade on TSX-V
2023-03-29 19:58 ET - Warrants Called to Trade
Effective at the opening, Friday, March 31, 2023, 11.3 million common share purchase warrants of the company will commence trading on the TSX Venture Exchange. The company is classified as a mineral exploration/development company.
Corporate jurisdiction: British Columbia
Capitalization: 11,845,000 warrants authorized by a warrant indenture dated March 24, 2023, of which 11.3 million warrants will be listed and posted for trading on the TSX-V, effective at the opening on Friday, March 31, 2023
Warrant exercise price/term: $2.70 per common share to March 24, 2025, subject to acceleration, as described below
Transfer agent: TSX Trust Company
Trading symbol: DME.WT (new)
Cusip No.: 25043D 12 3 (new)
Eleven million three hundred thousand of the outstanding warrants were issued pursuant to the company's final short form prospectus offering dated March 20, 2023.
The agent related to the offering has up to 30 days from closing to exercise the overallotment option of the offering in whole. Five hundred forty-five thousand additional warrants may be issued and listed, if the agent exercises the overallotment option in full.
Each warrant entitles the holder to purchase one common share at a price of $2.70 per common share and will expire on March 24, 2025, subject to an acceleration, as described below.
In the event the volume-weighted average trading price of the common shares in the capital of the company for any 10 consecutive trading days on the TSX Venture Exchange exceeds $4.50, the company will have the right to accelerate the expiry date of the warrants by providing written notice to each registered holder of warrants and warrant agent, and distributing a news release within 10 business days of the occurrence of such event. If an acceleration notice is provided by the company, the expiry of the warrants will be accelerated to 5 p.m. Vancouver time on the date that is not less than 30 days following the provision of such acceleration notice, provided, however, that if the accelerated expiry date falls on a day that is not a business day, the accelerated expiry date shall be deemed to be the next business day.
For further details, please refer to the company's news releases dated March 24, 2023, and March 29, 2023, and the short form prospectus dated March 20, 2023, filed on SEDAR.
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