Casa Minerals Inc. Reprices Warrants, Extends Expiry Date, and Proposes Exercise Incentive Program
Casa Minerals Inc. Reprices Warrants,
Extends Expiry Date, and Proposes Exercise
Incentive Program
Vancouver, British Columbia--(Newsfile Corp. - May 10, 2023) - 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") issued to its May
20, 2021 private placement. The Company's intentions are to extend the expiry date, reprice the
Warrants and intends to issue incentive Warrants for exercised Warrants.
The Warrants have an exercise price of $0.30 and expiry dates of May 20, 2023 (16,400,000 Warrants),
June 24, 2023 (3,600,000 Warrants) and July 08, 2023 (1,014,200 Warrants). Management believes
that extending the expiry date for 3 (three) months and repricing the Warrants should encourage their
exercise to help finance work programs planned for this field season at the Company's projects. The new
expiry dates of the Warrants are as follows:
May 20, 2023 will expire on August 18, 2023,
June 24, 2023 will expire on September 20, 2023
July 08, 2023 will expire on October 06, 2023.
The Warrants will be deemed to be amended to adjust their exercise price to $0.10 per share (the
"Amended Warrants").
The amendment of the Warrants is subject to approval of the TSX Venture Exchange.
The Company also announces that once it obtains Warrant Amendment approval, it will institute a
warrant exercise incentive program (the "
Incentive Program
") designed to encourage the exercise of
the 21,014,200 Amended Warrants. Under the Incentive Program, the Company will offer an inducement
to each Warrant holder that exercises its Amended Warrants by the above stated expiry dates, by the
issuance of one additional Common Share purchase warrant (an "
Incentive Warrant
") for each Warrant
exercised. Each Incentive Warrant will entitle the holder to purchase one additional Common Share of
the Company at a price of $0.15 for a period of two (2) years from the date of the Warrant Amendment
Approval and will be subject to a four month and one day hold period from their date of issuance.
The Incentive Program will commence upon receipt of Warrant Amendment Approval.
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/165592