Casa Minerals Inc. Announces Warrant Extension
Casa Minerals Inc. Announces Warrant
Extension
Vancouver, British Columbia--(Newsfile Corp. - February 9, 2024) - Casa Minerals Inc. (TSXV: CASA)
(OTC Pink: CASXF) (FSE: 0CM) (the "Company" or "Casa"), is pleased to announce its intentions to
update an aggregate of 21,014,200 common share purchase warrants ("Warrants"). The Warrants were
issued to its May 20, 2021 private placement, in two tranches of 16,400,000 and 3,600,000 Warrants,
as well as its July 05, 2021 private placement, in one tranche of 1,014,200 Warrants. The Company
intends to extend the expiry date from February 20, 2024 to a new expiry date of February 20, 2025 for
all Warrants.
The Warrants were granted a previous repricing by the TSX.V on July 28, 2023 and have an exercise
price of $0.10. Management believes that extending the expiry date should encourage their exercise to
help finance work programs planned for this field season at the Company's projects.
As an additional incentive, Casa is proposing bonus warrants ("Bonus Warrants") to all warrant holders
who exercise their Warrants. The Bonus Warrants will have an exercise price of $0.10 and expire 12
months from the date of issuance. The Bonus Warrants shall be subject to an acceleration clause. If the
volume-weighted average closing price of the Shares on the TSX Venture Exchange (the "Exchange") is
greater than $0.17 for 5 consecutive trading days, then the Company may, at its sole option, elect to
provide notice (the "Acceleration Notice") to the Bonus Warrant holders, which Acceleration Notice may
be provided by news release, that the Bonus Warrants will expire at 4:00pm (Vancouver time) on the
date that is 30 days from the date of the Acceleration Notice (the "Accelerated Notice Expiry Date"). In
such instance, all Bonus Warrants that are not exercised prior to the Accelerated Expiry Date will expire
on the Accelerated Expiry Date.
The Warrants are subject to an acceleration clause. If the closing price of the Shares on the TSX Venture
Exchange (the "Exchange") is greater than $0.45 for 10 consecutive trading days, then the Company
may, at its sole option, elect to provide notice (the "Acceleration Notice") to the holders of the Warrants,
which Acceleration Notice may be provided by news release, that the Warrants will expire at 4:00 p.m.
(Vancouver time) on the date that is 30 days from the date of the Acceleration Notice (the "Accelerated
Expiry Date"). In such instance, all Warrants that are not exercised prior to the Accelerated Expiry Date
will expire on the Accelerated Expiry Date.
The amendment of the Warrants is subject to approval of the TSX Venture Exchange.
About Casa Minerals Inc.
The Company is engaged in the acquisition, exploration and development of mineral properties located
in Canada and the USA. Casa owns ninety percent (90%) interest in the Congress gold mine (Arizona,
USA) in the patented claims from 40 feet depth and beyond and in addition the Company owns
undivided 100% in 25 claims (494.48 acres) of unpatented ground adjacent to the Congress gold mine.
This historic high-grade gold producing mine has not been explored nor been in production since 1992.
Additionally, the Company owns a one hundred percent (100%) interest in the polymetallic Pitman and
Keaper properties (BC, Canada) and has an option to acquire a seventy-five percent (75%) interest in
the Arsenault VMS Property (BC, Canada).
On Behalf of the Board of Directors
Farshad Shirvani, M.Sc. Geology
President and CEO
For more information, please contact:
Casa Minerals Inc.
Farshad Shirvani, President & CEO
Phone: (604) 678-9587
Email:
https://www.casaminerals.com
NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS
THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS
RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
Certain of the statements made and information contained herein may constitute "forward-
looking information." In particular references to the private placement and future work programs
or expectations on the quality or results of such work programs are subject to risks associated
with operations on the property, exploration activity generally, equipment limitations and
availability, as well as other risks that we may not be currently aware of. Accordingly, readers
are advised not to place undue reliance on forward-looking information. Except as required
under applicable securities legislation, the Company undertakes no obligation to publicly
update or revise forward-looking information, whether as a result of new information, future
events or otherwise.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/197527