Zephyr Accelerates Warrant Expiry Date
Zephyr Accelerates Warrant Expiry Date
Trading Symbol: TSX-V: ZFR OTC-ZPHYF
Shares Outstanding: 65,068,960
HALIFAX, NS,
Aug. 12, 2020
/CNW/ - Zephyr Minerals Ltd. (TSXV: ZFR) ("
Zephyr
" or the
"
Company
") announces that the Company has accelerated the expiry date of the common share
purchase warrants of Zephyr issued on February 20, 2020 (the "
Warrants
") in accordance with the
terms of the Warrants. Approximately 5.1 million Warrants are currently outstanding and are subject
to the acceleration. If all outstanding Warrants are exercised, gross proceeds to the Company will
total
$1,785,000
.
Under the terms of the Warrants, the Company is permitted to accelerate the expiry date if the
volume-weighted average trading price of Zephyr's common shares on the TSX Venture Exchange
for any 20 consecutive trading day period is greater than
$0.70
(the "
Acceleration Event
"). Zephyr
is pleased to confirm that an Acceleration Event occurred as of
August 11
, 2020. Accordingly, the
Company has chosen to accelerate the expiry date of the Warrants to September 11, 2020 and this
news release constitutes notice to the Warrant holders of the acceleration under the terms of the
Warrants. Holders may exercise the Warrants before 5:00 p.m. Halifax Time on September 11,
2020 (the "
Expiry Time
") by observing the process as set out in their Warrant certificates. All
Warrants remaining unexercised after the Expiry Time will be cancelled.
About Zephyr Minerals Ltd.
Zephyr Minerals Ltd. continues to advance its 100% owned high grade Dawson-Green Mountain
Project in
Colorado, USA
. After expanding it's land package to 1,385 hectares (3,430 acres) the
Company now controls a 12.2 km long
Dawson-Green Mountain
mineralized trend. The central 3.2
km long El Plomo section is the focus for potential Broken Hill Type silver-lead-zinc mineralization
and the east and west sections, Dawson and Green Mountain respectively are being targeted for
gold. The Dawson section is currently host to a high grade inferred gold resource. The Company
believes the combined Dawson and Green Mountain sections encompassing approximately 9 km of
mineralized trend provide excellent resource expansion potential.
To be included in the Zephyr email database for Company updates please contact
.
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
release. The forward-looking statements contained in this document are based on certain key
expectations and assumptions made by the Company, including, with respect to the use of funds
from the private placement, expectations and assumptions concerning timing of receipt of required
regulatory approvals and third party consents and the satisfaction of other conditions to the
completion of the exploration work on the Dawson-Green Mountain Property. The forward-looking
statements contained in this document are made as of the date hereof and the Company
undertakes no obligation to update publicly or revise any forward-looking statements or
information, whether as a result of new information, future events or otherwise, unless so required
by applicable securities laws.
SOURCE
Zephyr Minerals Ltd.
View original content:
http://www.newswire.ca/en/releases/archive/August2020/12/c3803.html
%SEDAR: 00030509E
For further information:
David Felderhof, EVP & Director, Zephyr Minerals Ltd., T: 902 446-4189,
F: 866 941-4715
CO: Zephyr Minerals Ltd.
CNW 08:45e 12-AUG-20