Rover Metals Reprices Stock Options Issued to Consultants and Reprices Previously Oustanding Warrants Issued to Shareholders
Rover Metals Reprices Stock Options Issued to Consultants and Reprices
Previously Oustanding Warrants Issued to Shareholders
VANCOUVER, British Columbia, Jan. 20, 2023 -- Rover Metals Corp. (TSXV: ROVR) (OTCQB: ROVMF) (FSE:4XO)
(“Rover” or the “Company”) announces that is has received approval from the Toronto Venture Exchange (the “TSXV”) to re-
price issued and outstanding stock options granted to arm’s length consultants of the Company. Also, further to its news
release of January 3, 2023 , the Company has received approval from the TSXV to re-price and extend the lives of warrants
issued under previous private placements.
Terms of the Stock Option Repricings
On a post-consolidation basis (see October 28, 2022 release), the Company has 208,332 stock options outstanding, with an
exercise price of $0.36. The Company has amended the exercise price to $0.15 per option share.
On a post-consolidation basis, the Company has 58,333 stock options outstanding, with an exercise price of $0.39. The
Company has amended the exercise price to $0.15 per option share.
On a post-consolidation basis, the Company has 50,000 stock options outstanding, with an exercise price of $0.45. The
Company has amended the exercise price to $0.15 per option share.
On a post-consolidation basis, the Company has 29,166 stock options outstanding, with an exercise price of $0.72. The
Company has amended the exercise price to $0.15 per option share.
On a post-consolidation basis, the Company has 8,733 stock options outstanding, with an exercise price of $0.90. The
Company has amended the exercise price to $0.15 per option share.
A total of 354,564 outstanding stock options have had their exercises prices amended to $0.15 per warrant share.
Warrant Repricings
Further to its news release of January 3, 2023 , the Company has received approval from the TSXV to reprice and extend the
lives of the following issued and outstanding warrants:
No. of Warrants Old Price New Price Expiry
6,170,799 $0.90 $0.15 May 31, 2025
2,981,237 $0.45 $0.20 May 31, 2025
849,953 $0.72 $0.20 August 23, 2024
179,719 $0.72 $0.20 January 27, 2025
138,887 $0.72 $0.20 April 24, 2025
208,333 $0.72 $0.20 May 31, 2025
10,528,928 Total
Pursuant with TSXV policies, the warrants now have an acceleration clause such that if the closing price for the Company’s
shares are 25% higher then the exercise price (or greater) for a period of 10 consecutive trading days, then the warrant holders
will have 30 days to exercise their warrants; otherwise, the warrants will expire on the 31st day.
Judson Culter, CEO at Rover Metals, states “repricing our stock options and warrants to these levels provides a realistic
hurdle to access quick growth capital, free of corporate finance fees and marketing and travel fees that are associated with
traditional financing instruments. Additionally, stock options and warrants priced at these new levels has the potential to
reward our retail investors and consultants that have taken the risks associated with getting involved with our company in the
early stages. We are committed to our shareholder-base and our management team will work hard in the coming year to try
and unlock the value of these warrants for them.”
About Rover Metals
Rover is a publicly traded junior mining company that trades on the TSXV under symbol ROVR, on the OTCQB under symbol
ROVMF, and on the FSE under symbol 4XO. Rover is currently focussed on the development of a claystone lithium
project in southwest Nevada, USA. Plans for 2023 include a 1,200-meter reverse circulation drill program at the Let’s Go
Lithium project.
The Company has a diverse portfolio of mining resource development projects with varying exploration timelines. Its critical
mineral projects include lithium, zinc, and copper. Its precious metals projects include gold and silver. The Company is
exclusive to the mining jurisdictions of Canada and the U.S .
You can follow Rover on its social media channels:
Twitter: https://twitter.com/rovermetals
LinkedIn: https://www.linkedin.com/company/rover-metals/
Facebook: https://www.facebook.com/RoverMetals/
for daily company updates and industry news, and
YouTube: https://www.youtube.com/channel/UCJsHsfag1GFyp4aLW5Ye-YQ?view_as=subscriber
for corporate videos.
Subscribe to our Newsletter on our Website: https://www.rovermetals.com/
ON BEHALF OF THE BOARD OF DIRECTORS
“Judson Culter”
Chief Executive Officer and Director
For further information, please contact:
Email: [email protected]
Phone: +1 (778) 754-2855
Statement Regarding Forward-Looking Information
This news release contains statements that constitute "forward-looking statements." Such forward-looking statements involve
known and unknown risks, uncertainties and other factors that may cause Rover's actual results, performance or
achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements
expressed or implied by such 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," "believes," "intends,"
"estimates," "projects," "potential" and similar expressions, or that events or conditions "will," "would," "may," "could" or
"should" occur. There can be no assurance that such statements prove to be accurate. Actual results and future events could
differ materially from those anticipated in such statements, and readers are cautioned not to place undue reliance on these
forward-looking statements. Any factor could cause actual results to differ materially from Rover’s expectations. Rover
undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or
opinions, or other factors, should change.
THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS NEWS RELEASE REPRESENTS THE EXPECTATIONS
OF THE COMPANY AS OF THE DATE OF THIS NEWS RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE
AFTER SUCH DATE. READERS SHOULD NOT PLACE UNDUE IMPORTANCE ON FORWARD-LOOKING INFORMATION
AND SHOULD NOT RELY UPON THIS INFORMATION AS OF ANY OTHER DATE. WHILE THE COMPANY MAY ELECT
TO, IT DOES NOT UNDERTAKE TO UPDATE THIS INFORMATION AT ANY PARTICULAR TIME EXCEPT AS REQUIRED
IN ACCORDANCE WITH APPLICABLE LAWS.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION PROVIDER (AS THAT TERM IS DEFINED IN THE
POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OF THIS
RELEASE.