Greenridge Exploration Announces Approval of Warrant Extension

Executive Summary

• The Canadian Securities Exchange approved extending the expiry of 7,937,574 common share purchase warrants (the “2024 Warrants”) to March 18 2027.
• Each warrant allows acquisition of one common share at $0.45; all other terms remain unchanged.
• No action is required from warrant holders and no new certificates will be issued; original certificates must be presented for exercise.

Key Details

• Warrant Count: 7,937,574 warrants extended.
• Exercise Price: $0.45 per common share (unchanged).
• New Expiry Date: March 18 2027 (previous expiry date not specified).
• Original Issuance: Warrants were issued in a private placement that closed on March 18 2024.
• Holder Action: No action required; original warrant certificates remain valid for exercise.
• Related Party Transaction: One director holds 263,118 of the warrants; the extension is exempt from MI 61‑101 valuation and minority approval thresholds because the fair market value of the extension does not exceed 25% of Greenridge’s market capitalization.
• Impact on Capital Structure: Extends the period during which warrant holders can convert to equity, potentially diluting existing shareholders if exercised but also providing additional financing flexibility for the company.

Notable Quotes

(No direct quotes were included in the release.)