VANCOUVER, British Columbia, June 14, 2024 (GLOBE NEWSWIRE) — Ceylon Graphite Corp. (“Ceylon” or the “Company”) (TSX-V: CYL) (OTC: CYLYF) (FSE: CCY) announces today that it intends to amend the terms of 7,222,222 outstanding common share purchase warrants (the “Warrants”) due to expire on October 26, 2024 pursuant to a proposed warrant incentive program (the “Program”). The Warrants were issued in connection with a private placement of convertible debentures that closed on October 26, 2023, and are currently exercisable at $0.06 per common share.
The Program will commence on the date of TSX Venture Exchange (“TSXV”) approval and will expire 30 days from the date of such approval at 4:00 p.m. (Vancouver time). For the duration of the Program, the exercise price of the Warrants will be amended to $0.05 per common share. If a Warrant is exercised during the term of the Program, the holder of such Warrant will…
