Nevada Exploration Inc. (“NGE” or the “Company”) (TSX-V:NGE; OTCQB:NVDEF) announces that the Company proposes to extend the expiry date of a total of 7,970,000 share purchase warrants, all of which are exercisable at $0.30 per share. The Warrants were issued pursuant to a private placement that closed in two tranches on August 29, 2018, and September 7, 2018, and currently expire on February 28, 2021, and March 7, 2021 (collectively, the “Warrants”). The Company proposes to extend the expiry dates of the Warrants for one additional year, as follows:
– The 5,186,000 Warrants expiring on February 28, 2021 (5,156,000 are currently still outstanding), will be extended to February 28, 2022; and
– The 2,814,000 Warrants expiring on March 7, 2021, will be extended to March 7, 2022.
All other terms and conditions of the Warrants remain unchanged, including the accelerated expiry provision whereby if the closing price of the common shares of NGE quoted on the TSX Venture Exchange is greater than $0.50 for 10 consecutive trading days, NGE may accelerate the expiry date of the Warrants to the 30th day after the date on which NGE gives notice to the Warrant holders of such acceleration.
The Warrant extension is subject to acceptance by the TSX Venture Exchange.