Cleghorn Minerals To Extend Warrant Expiry Date
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152 Chemin de la Mine École
Val-d'Or, QC J9P 7B6
Cleghorn Minerals To Extend Warrant Expiry Date
Val-d’Or, Québec – June 27, 2019 – Cleghorn Minerals Ltd. (“Cle ghorn” or the “Company”) (TSX-V:CZZ)
announces that, subject to prior acceptance by the TSX Venture Exchange, it intends to extend the expiry date of
outstanding Warrants previously issued under a non-brokered private placement offering as follows:
No. of common
shares underlying
Warrants
Current
exercise price
per share
Current
expiry date
Proposed extended
expiry date
4,550,000 $0.12 Au gust 18, 2019 Au gust 18, 2021
1,631,674 $0.15 Au gust 18, 2019 Au gust 18, 2021
The Warrants contain an accelerated expiry provision such that the exercise period of the Warrants will be reduced
to 30 days if for any 10 consecutive trading days during the unexpired term of the Warrants (the “Premium Trading
Days”) the closing price of the Company’s common shares exceeds the respective $0.12 or $0.15 exercise price
by 25% or more (which would be a respective trading price of $0 .15 or $0.1875 per share or higher), the
accelerated 30 day expiry period to begin no more than 7 calendar days after the 10th Premium Trading Day. The
accelerated expiry provision will continue to apply to the Warrants on extension of the term to expiry.
About Cleghorn Minerals Ltd.
Cleghorn is a junior mineral exploration company with a 100% interest in the Meech Lake - Matachewan Prospect,
a property located in northeastern Ontario, subject to an aggregate 3.5% NSR.
For additional information, please contact:
Glenn J. Mullan, President, Chief Executive Officer, Secretary and Director
Telephone: (819) 824-2808 – Head Office
(514) 835-8384 – Cell
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of this news release.
This news release contains certain statements that may be deemed “forward-looking statements”. Forward-looking
statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”,
“plans”, “anticipates”, “beli eves”, “intends”, “estimates”, “projects”, “potential” and sim ilar expressions, or that events
or conditions “will”, “would”, “may”, “could ” or “should” occur. Although Cleghorn believes the expectations expressed
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OR TO U.S. NEWS AGENCIES
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in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future
performance and actual results may differ materially from those in forward-looking statements. Forward-looking statements
are based on the beliefs, estimates and opinions of Cleghorn’s management on the date the statements are made. Except as
required by law, Cleghorn undertakes no obligation to up date these forward-looking statements in the event that
management’s beliefs, estimates or opinions, or other factors, should change.
THIS PRESS RELEASE, REQUIRED BY APPLICABLE CANADIAN LAWS, IS NOT FOR DISTRIBUTION TO U.S. NEWS SERVICES OR
FOR DISSEMINATION IN THE UNITED STATES, AND DOES NOT CONSTITUTE AN OFFER TO SELL OR A SOLICITATION OF AN
OFFER TO SELL ANY OF THE SECURITIES DESCRIBED HEREIN IN THE UNI TED STATES. THESE SECURITIES HAVE NOT BEEN,
AND WILL NOT BE, REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE
SECURITIES LAWS, AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES OR TO U.S. PERSONS UNLESS REGISTERED
OR EXEMPT THEREFROM.