Issue Date | Number of Warrants | Exercise Price | Original Expiry Date | New Expiry Date |
84,500 | ||||
1,675,000 | ||||
1,825,000 |
All other terms of the Warrants remain the same.
Pursuant to Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101”), the extension of the term of the Warrants held by insiders constitute a “related party transaction”. The transaction is exempt from the formal valuation and minority shareholder approval requirements in Sections 5.4 and 5.6 of MI 61-101, respectively, pursuant to the exemptions in Subsection 5.5(a) and Paragraph 5.7(1)(a) of MI 61-101, respectively, as neither the fair market value of the subject matter of, nor the fair market value of the consideration for, the transaction, insofar as it involves interested parties, exceeds 25% of the Company’s market capitalization. The transaction is also exempt from the formal valuation requirement in Subsection 5.4 of MI 61-101 pursuant to the exemption in Subsection 5.5(b) of MI 61-101.
This release is being filed less than 21 days before the effective date of the amendments to the Warrants. This shorter period is reasonable and necessary in the circumstances as the Company wishes to carry out the amendments as expeditiously as possible given current market conditions. Furthermore, the CSE policy requires that amendments to warrant terms must be completed sufficiently in advance of their expiry date, and the Company is concerned that delay may preclude the holders of the Warrants expiring in October from enjoying the benefit of the Warrant extension alongside the other Warrantholders.
About
Voyageur is a Canadian junior mineral exploration company with a specific focus on mineral properties in
FOR FURTHER INFORMATION PLEASE CONTACT:
Mr.
President and CEO
Tel: 1-647-227-3035
Email: bhowlett@northfieldcapital.com
Source:
2020 GlobeNewswire, Inc., source