Following the Warrant Repricing, the Company will have an aggregate of 6,274,200 outstanding warrants, having an exercise price of
Under the policies of the Canadian Securities Exchange ('CSE'), the proposed Warrant Repricing is subject to the unanimous consent of the registered holders of the outstanding Repriced Warrants. The Company confirms that it has received written consent from all holders of Repriced Warrants having an exercise price of
In addition, the Company has established an exercise incentive program (the 'Incentive Program') with respect to all of the 6,274,200 Subject Warrants. Under the Incentive Program, each holder of a Subject Warrant who exercises part or all of their Subject Warrants between the date hereof and
Warrant Holders who wish to participate in the Incentive Program will be required to deliver the applicable warrant exercise documents to the Company to exercise their respective Subject Warrants and in consideration for the issuance of the Incentive Warrants. The Subject Warrants which remain unexercised as at
The Incentive Warrants and the Incentive Warrant Shares, if issued, will be subject to a statutory hold period of four months and one day from the date of issuance of the Incentive Warrants. The Warrant Repricing and the Incentive Program are subject to the receipt of all necessary regulatory approvals including the approval of the CSE.
About
New Break is a Canadian mineral exploration company with a dual vision for value creation. In northern
CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION
Except for statements of historic fact, this news release contains certain 'forward-looking information' within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as 'plan', 'expect', 'project', 'intend', 'believe', 'anticipate', 'estimate' and other similar words, or statements that certain events or conditions 'may' or 'will' occur. Forward-looking statements are based on the opinions and estimates at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements including, but not limited to receipt of regulatory and stock exchange approvals, grants of equity-based compensation, renouncement of flow-through exploration expenses, property agreements, timing and content of upcoming work programs, geological interpretations, receipt of property titles, an inability to predict and counteract the effects global events on the business of the Company, including but not limited to the effects on the price of commodities, capital market conditions, restriction on labour and international travel and supply chains etc. Forward-looking information addresses future events and conditions and therefore involves inherent risks and uncertainties, including factors beyond the Company's control. Accordingly, readers should not place undue reliance on forward-looking information. The Company undertakes no obligation to update publicly or otherwise any forward-looking information, except as may be required by law. Additional information identifying risks and uncertainties that could affect financial results is contained in the Company's financial statements and management's discussion and analysis (the 'Filings'), such Filings available upon request.
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