Receptagen Announces Accelerated Expiry of Warrants
Wednesday July 22, 2:53 pm Eastern Time
EDMONDS, Wash.--(BUSINESS WIRE)--July 22, 1998--Receptagen (TSE:RCG - news; OTC BB:RCEPF - news)
Receptagen Ltd. reports that as a result of the ten day waited average trading price of the Company's shares exceeding Cdn. $0.047 per share (the ''Triggering Event'') on July 15, 1998, all outstanding warrants to acquire common shares of the Company, which have recently been repriced to Cdn. $0.035 per share, will expire at 5:00 p.m. (Toronto time) on Friday, August 14, 1998.
The ''Triggering Event'' referred to above, as previously reported, was imposed by the Toronto Stock Exchange (the ''TSE'') as a condition to the repricing and extension in term of all warrants. Specifically, the TSE mandated that if the ten day waited average trading price of the common shares of the Company on any public market (between the dates June 30, 1998 and September 20, 1998) exceeded Cdn. $0.047 per share, all warrants approved at the Company's June 30, 1998 shareholder meeting for repricing and extension would expire on the 30th day following the occurrence of such ''Triggering Event''.
Note to Editors: The Toronto Stock Exchange has neither approved nor disapproved of the information contained herein.
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