OTTAWA,
A portion of the Warrants are held by parties who are considered to be "related parties" of the Company. Therefore, the amendment of Warrants constitutes a "related party transaction" as contemplated by Multilateral Instrument 61-101 Protection of Minority Shareholders in Special Transactions (“MI 61-101”), and Exchange Policy 5.9 - Protection of Minority Shareholders in Special Transactions. However, the exemptions from formal valuation and minority approval requirements provided for under sections 5.5(a) and 5.7(1)(a) of MI 61-101 can be relied upon as the fair market value of the Warrants does not exceed 25% of the market capitalization of the Company.
Holders of Warrants will not receive an amended Warrant certificate.
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This press release may contain forward-looking statements and information, which may involve risks and uncertainties, including statements with respect to Exchange approval of the extension of the Warrants. The results or events predicted in these statements may differ materially from actual results or events. There can be no assurance or guarantees that any statements of forward-looking information contained in this release will prove to be accurate. Actual results and future events could differ materially from those anticipated in such statements. These and all subsequent written and oral statements containing forward-looking information are based on the estimates and opinions of management on the dates they are made and expressly qualified in their entirety by this notice. Unless otherwise required by applicable securities laws,
Neither
For More Information, please contact:
Chief Financial Officer
gpretli@leonovus.com
Source:
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