Jade Leader Proposes to Extend Warrants
Jade Leader Proposes to Extend Warrants
CALGARY, AB / ACCESSWIRE / July 26, 2023 / Jade Leader Corp. (TSX.V:JADE) ("Jade
Leader", or "the Company") announces that, subject to the approval of the TSX Venture
Exchange, the Company is seeking to extend the term of certain warrants (the "Warrants") and
reduce the exercise price from $0.10 per share to $0.06 with an accelerator clause.
Warrant Repricing and Extension
The Company intends to extend the expiry date of 2,610,150 Warrants granted on August 12,
2023 with each Warrant entitling the holder to purchase one common share of the Company until
August 12, 2025.
In addition, the Company will reprice a total of 2,471,165 warrants including a total of 261,015
granted to insiders. Pursuant to TSX V policies, a total of 138,985 warrants granted to insiders
will be extended until August 12, 2025 but the exercisable price will not be reduced and will
remain exercisable at $0.10 per share.
In addition, the Warrants that have been repriced will be revised to include an acceleration clause
such that the term of the Warrants will be reduced to 30 days (the "Reduced Term") in the event
the closing price of the Common Shares on the TSX Venture Exchange exceeds $0.06 by 25% or
more for ten consecutive trading dates (the "Premium Trading Days"). The Reduced Term would
commence on the third business day after the tenth Premium Trading Day.
Insiders hold a total of 400,000 Warrants. The Company has relied on exemptions from the
formal valuation and minority shareholder approval requirements of MI 61-101 contained in
Sections 5.5(a) and 5.7(1)(a) of MI 61-101 as the fair market value of the subject matter of the
Private Placement does not exceed 25% of the market capitalization of the Company as
calculated in accordance with MI 61-101. The Company does not intend to file a material change
report in respect of the extension.
About Jade and Jade Leader Corp.
Recent articles suggest that the international Jade market is now larger than the better known
worldwide market for rough diamonds, without any participation in the space by publicly listed
Companies prior to the formation of Jade Leader Corp.
Jade leader is leveraging this unique combination of mineral exploration expertise and Jade
carving knowledge to build a portfolio of 6 Jade exploration properties on which Nephrite Jade
with various characteristics has now been identified in stable, mining-friendly jurisdictions in the
USA.
On Behalf of the Board of Directors,
"Jean-Pierre Jutras"
Jean-Pierre Jutras, President/Director
For Further Information Contact:
Instagram: @jadeleadercorp
Youtube Channel: Jade Leader Corp.
www.jadeleader.ca
Or Jean Pierre Jutras, President
at 1.403.233.0464
Jade Shop: www.jadeleader.shop
The TSX Venture Exchange has neither approved nor disapproved of the contents of this press
release.
Except for the historical and present factual information contained herein, the matters set forth in
this news release, including words such as "expects", "projects", "plans", "anticipates" and
similar expressions, are forward-looking information that represents management of Jade
Leader's internal projections, expectations or beliefs concerning, among other things, future
operating results and various components thereof or the economic performance of Jade Leader.
The projections, estimates and beliefs contained in such forward-looking statements necessarily
involve known and unknown risks and uncertainties, which may cause Jade Leader's actual
performance and financial results in future periods to differ materially from any projections of
future performance or results expressed or implied by such forward-looking statements. These
risks and uncertainties include, among other things, those described in Jade Leader's filings with
the Canadian securities authorities. Accordingly, holders of Jade Leader shares and potential
investors are cautioned that events or circumstances could cause results to differ materially from
those predicted. Jade Leader disclaims any responsibility to update these forward-looking
statements.
SOURCE: Jade Leader Corp.