Group Eleven Announces Warrant Extension
Group Eleven Announces Warrant Extension
Vancouver, Canada, July 12, 2023 - Group Eleven Resources Corp. (TSX-V: ZNG; OTC: GRLVF; FRA: 3GE)
(“Group Eleven” 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”) of the
Company which would otherwise expire on July 28, 2023.
Warrant Repricing and Extension
The Company intends to extend the expiry date of the 12,916,667 Warrants granted on July 28,
2020, with each Warrant entitling the holder to purchase one common share of the Company, as
follows:
Certificate Numbers
Aggregate Number
of Warrants
Outstanding
Issue Date Original
Expiry Date
New Expiry
Date
WA-2020-07-001
through
WA-2020-07-014
12,916,667 July 28,
2020 July 28, 2023 October 28,
2024
Certain Warrants being extended are held by insiders of the Company, and the extension of such
Warrants constitutes, to that extent, a "related party transaction" within the meaning of Exchange
Policy 5.9 and Multilateral Instrument 61 -101 – Protection of Minority Shareholders (“MI 61-101”).
The Company has relied on the e xemptions from the valuation and minority shareholder approval
requirements of MI 61-101 (and Policy 5.9) contained in sections 5.5(b) and 5.7(1)(b) of MI 61-101 in
respect of such insider participation.
About Group Eleven Resources
Group Eleven Resource s Corp. (TSX.V: ZNG; OTC: GRLVF and FRA: 3GE) is a mineral exploration
company focused on advanced stage zinc exploration in Ireland. Additional information about the
Company is available at www.groupelevenresources.com.
ON BEHALF OF THE BOARD OF DIRECTORS
Bart Jaworski, P.Geo.
Chief Executive Officer
E: [email protected] | T: +353-85-833-2463
E: [email protected] | T: 604-644-9514
2
Cautionary Note Regarding Forward-Looking Information
Certain information set forth in this news release contains forward -looking statements or
information ("forward-looking statements"), including details about the proposed extension of
the Warrants. All statements, other than statements of historical fact, included herein, including,
without limitation, statements relating to the extension of the Warrants are forward -looking
statements. Forward- looking statements are subject to business and economic risks and
uncertainties and other factors that could cause actual results of operations to differ materially
from those contained in the forward -looking statements. By their nature, forwar d-looking
statements are subject to numerous risks and uncertainties, some of which are beyond the
Company’s control, including risks associated with unanticipated delays in obtaining or failure to
obtain regulatory or stock exchange approvals for the extension of the Warrants.
Forward-looking statements are based on estimates and opinions of management at the date the
statements are made. Although the Company believes that the expectations in its forward-looking
statements are reasonable, its forward -looking statements have been based on factors and
assumptions concerning future events which may prove to be inaccurate. Those factors and
assumptions are based upon currently available information. Such statements are subject to
known and unknown risks, uncertainties and other factors that could influence actual results or
events and cause actual results or events to differ materially from those stated, anticipated or
implied in the forward-looking statements. Accordingly, readers are cautioned not to place undue
reliance on the forward-looking statements, as no assurance can be provided as to future results
or events. Furthermore, the forward-looking statements contained in this document are made as
of the date of this document and, except as required by applicable law, the Company does not
undertake any obligation to publicly update or to revise any of the included forward -looking
statements, whether as a result of new information, future events or otherwise. The forward -
looking statements contained in this document are expressly qualified by this cautionary
statement.
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.