VANCOUVER, British Columbia, Sept. 27, 2024 (GLOBE NEWSWIRE) -- CMC Metals Ltd. (TSX-V: CMB) (Frankfurt:ZM5P) ('CMC” or the 'Company”) announces that the TSX Venture Exchange (the 'TSXV”) has approved the Company's request to extend the expiry date of 2,161,557 share purchase warrants, originally granted September 27, 2022 to September 27, 2025, and 1,942,014 share purchase warrants, originally granted October 12, 2022, to October 13, 2025.
The request to amend the exercise price from $0.20 to $0.07 remains subject to TSXV approval and the consent of the Warrant holders (the 'Amended Warrants”). Each Amended Warrant is exercisable into one (1) common share of the Company and will be subject to an acceleration clause such that the exercise period of the Warrants will be reduced to 30 days, if for any ten consecutive trading days during the unexpired term of the Warrant (the 'Premium Trading Days”), the closing price of the Listed Shares exceeds the exercise price of the Warrants by 25% or more and the reduced exercise period of 30 days will begin no more than seven (7) calendar days after the 10th Premium Trading Day.