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News
Highway 50 Gold Seeks to Extend Term of and Reprice Previously Issued Warrants
September 4, 2020
Vancouver, British Columbia — Highway 50 Gold Corp. (TSX.V — HWY)
Highway 50 Gold Corp. (“Highway 50” or the “Company”) announces that the Company is proposing to extend the term of an aggregate of 1,182,455 outstanding common share purchase warrants (the “Warrants”) for a period of one year to September 21, 2021 and increase the exercise price of the Warrants from $0.40 to $0.60, effective September 21, 2020. The Warrants were issued pursuant to a non-brokered private placement (the “Private Placement”) of flow-through and non-flow-through units of the Company completed on September 21, 2018. Each Warrant currently entitles the holder to purchase one non-flow-through common share of the Company (a “Warrant Share”) at an exercise price of $0.40 per Warrant Share until September 21, 2020. No Warrants have been exercised to date and an aggregate of 72,367 Warrants are held by two directors of the Company.
The proposed amendments to extend the expiry date of the Warrants and the increase in the exercise price of the Warrants are subject to TSX Venture Exchange acceptance.
On behalf of the Board,
“Gordon P. Leask”
Gordon P. Leask
President, Chief Executive Officer and Director
For additional information:
Gordon P. Leask, P.Eng. or John M. Leask, P.Eng.
Tel: 604.681.4462
Email: gord@highway50gold.com or jml@highway50gold.com
About Highway 50 Gold Corp.
Highway 50 Gold Corp. is a mineral exploration stage company led by a team of experienced explorers and deal-makers. The Company is executing an exploration plan refined over 25 years of experience in Nevada and the Aldridge Formation of southeastern British Columbia. The exploration focus on its projects are a result of what management believes to be breakthroughs in the understanding of north-central Nevada’s crustal architecture and a new geological understanding on the Monroe property in British Columbia.
Neither the TSX Venture Exchange, nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note This news release contains certain forward-looking statements, including statements regarding the Company’s ability to receive acceptance from the TSX Venture Exchange to the extension of the expiry date and the increase in the exercise price of the Warrants and the business and anticipated financial performance of the Company. These statements are subject to a number of risks and uncertainties. Actual results may differ materially from results contemplated by the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include: the Company does not receive regulatory acceptance to the extension of the expiry date and the increase in the exercise price of the Warrants; changes in metal prices, changes in the availability of funding; unanticipated changes in key management personnel and general economic conditions. Mining is an inherently risky business. Accordingly the actual events may differ martially from those projected in the forward-looking statements. When relying on forward-looking statements to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and should not place undue reliance on such forward-looking statements. The Company does not undertake to update any forward looking statements, oral or written, made by itself or on its behalf.