Active Growth Capital Announces TSXV Acceptance of Warrants Extension and Re-Pricing and Corporate Update
04 Dezember 2013 - 10:17PM
Marketwired
Active Growth Capital Announces TSXV Acceptance of Warrants
Extension and Re-Pricing and Corporate Update
VAL D'OR, QUEBEC--(Marketwired - Dec 4, 2013) - Active Growth
Capital Inc. (TSX-VENTURE:ACK) ("ACK" or the "Corporation") is
pleased to announces that, further to its news release of September
10, 2013, it has received acceptance for filing by the TSX Venture
Exchange ("TSXV") to extend the expiry and to reduce the exercise
price of a total of 1,800,000 outstanding non-transferable share
purchase warrants (the "Warrants") which were issued on December
13, 2012 in connection with a private placement. The original
exercise price was $0.50 per share and the amended exercise price
is $0.15 per share. The original expiry was at 4:00 PM (Montreal
time) on December 13, 2013 and the amended expiry is at 4:00 PM on
December 13, 2015.
Pursuant to the policies of the TSX Venture Exchange,
acceleration provisions of the Warrants were added to provide that
the exercise period of the Warrants will be reduced to 30 days if,
for any 10 consecutive trading days (the "Premium Trading Days")
during the unexpired term of the Warrants, the closing price of the
Corporation's common shares on the TSXV is $0.20 or greater. The 30
day period will begin 7 calendar days after the tenth Premium
Trading Day. The Corporation will give holders of outstanding
warrants prompt written notice of the commencement of the
accelerated exercise period.
The foregoing amendments to the Warrants are effective as of
4:00 PM (Montreal time) on December 5, 2013.
Corporate Update
Since the beginning of ACK's re-organization, the Corporation
has cut all costs of operations to a minimum, consolidated its
share capital, made change to the Board of Directors and has been
constantly seeking quality exploration projects with the ultimate
goal of increasing shareholders value.
"We have had discussions and reviewed several projects in the
last months but the goal is to find a project, or multiple
projects, which will allow ACK to distinguish itself in this
challenging period for the mining exploration industry. We believe
in taking all the time necessary in order to achieve this and are
making the sacrifices to have the benefit of this time," commented
Marc Labrecque, President and CEO.
About Active Growth Capital
Active Growth is a TSX listed junior mineral exploration issuer
whose long-term objective is to build a diversified company focused
on the acquisition, exploration and development of mineral
properties. Additional information about the Corporation is
available on SEDAR at www.sedar.com.
Neither the 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 news release.
Active Growth Capital Inc.Marc LabrecquePresident and CEO(819)
825-0001
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