The TSX Venture Exchange has approved the extension of just over 13,715 million post-consolidation common share purchase warrants for Velox Energy Materials (TSX-V:VLX).
The warrants were issued as part of the company’s private placement that closed in October 2022, are exercisable at a price of $0.144, and expire on 30 June 2025.
All other terms of the warrants will remain the same.
On 14 October 2022, the company completed a non-brokered private placement at C$0.03 per unit for aggregate gross proceeds of C$2.37 million. Each unit consisted of one common share and half of one common share purchase warrant.
Each warrant entitled the holder to purchase one additional common share at C$0.05 per at any time prior to 14 October 2024.
If the volume-weighted average price of the common shares over the preceding 20 trading days was greater than C$0.15, the company could elect to accelerate…
