Voyager Digital is issuing this press release to announce that it is accelerating the expiry date of all outstanding common share purchase warrants of the Company issued pursuant to the financing of the Company that closed on June 15, 2020.
Pursuant to the terms of the certificates evidencing the Warrants, the Company may accelerate the expiry date of the Warrants in the event that the closing price of the issued and outstanding common shares of the Company on the Canadian Securities Exchange is equal to or greater than C$0.30 per Common Share for a period of ten consecutive trading days .
The Company confirms that as of the close of markets on July 8, 2020, the Acceleration Trigger had occurred. In accordance with the terms of the certificates evidencing the Warrants, this news release constitutes notice to the Warrant holders of the Acceleration Trigger. Accordingly, the Company confirms that the Warrants are now set to expire at 5:00 p.m. on August 9, 2020, being the 30th day following the date of this notice . Any Warrants remaining unexercised after the Accelerated Expiry Date will be cancelled.
As of the close of market on July 8, 2020, a total of 6,489,086 Warrants of the 8,095,560 Warrants originally issued had yet to be exercised. Each Warrant is exercisable to acquire one Common Share at an exercise price of C$0.30 per Common Share. Accordingly, if all of the outstanding Warrants are exercised, gross proceeds to the Company will total C$1,946,725.80.
Source : Voyager Digital