(TheNewswire)
Montreal, Quebec / TheNewswire / November 3, 2017 - St-Georges Platinum & Base Metals Ltd. (CSE: SX) (OTC: SXOOF) (FSE: 85G1) would like to inform certain warrants holders of its intention to exercise its discretion in the acceleration of the expiry date of the warrants dated May 6, 2016.
To those Holders of Share Purchase Warrants dated May 6, 2016
Please be advised that St-Georges Platinum & Base Metals ltd. is accelerating the expiry date of the share purchase warrants dated May 6, 2016;
The share purchase warrants were issued in connection with a private placement of units, with each share purchase warrant being exercisable into one additional unit of the Company at a price of $0.04 per units until September 7, 2018;
At the closing of the market on November 1, 2017 the company share price has traded at a Volume Weighted Average Price of $0.0615 meeting and exceeding the requirements to allow the company to accelerate the expiration date of the said warrants;
The expiry date of the Warrants has now been accelerated to
December 1, 2017.
The Warrants were subject to the right of the Company to accelerate the expiry date of the Warrants under these conditions:
"At its discretion, the Company will be able to force the exercise of the warrants if the price of the common shares on the CSE is at or above 150% of the warrants' exercise price for 10 consecutive days based on a VWAP calculation." (St-Georges Press Release May 6, 2016)
If over a period of ten (10) consecutive trading days, the weighted average closing price of the Shares on the Exchange is at or exceeds 150% of the warrant execution price, then the Issuer may give notice in writing within 20 days of such an occurrence to the Subscriber that the warrants shall expire on the 20th business day following delivery of notice to the Subscriber by the Issuer in accordance with the current Accelerated Expiry Provision unless previously exercised by the Subscriber. (Warrant Acceleration Clause)
In order to exercise your Warrants, you are required to complete and submit the Notice of Exercise attached to your respective warrant certificate on or before 5:00 pm on December 1, 2017.For detailed exercise requirements, please refer to your Warrant Certificate.
ON BEHALF OF THE BOARD OF DIRECTORS
"Frank Dumas"
FRANK DUMAS, CEO & DIRECTOR
About St-Georges
St-Georges is developing new technologies to solve the biggest environmental problems in the mining industry. If these new technologies are successful, they should improve the financial bottom line of current mining producers. The potential success of these technologies would also involve upgrading certain current known metal resources to economic status while addressing the environmental and social acceptability issues.
The Company controls directly or indirectly all of the active mineral tenures in Iceland. It also explores for nickel on the Julie Nickel Project & for industrial minerals on Quebec's North Shore and for lithium and rare metals in Northern Quebec and in the Abitibi area. Headquartered in Montreal, St-Georges' stock is listed on the CSE under the symbol SX, on the US OTC under the Symbol SXOOF and on the Frankfurt Stock Exchange under the symbol 85G1. For additional information, please visit our website at www.stgeorgesplatinum.com
The Canadian Securities Exchange (CSE) has not reviewed and does not accept responsibility for the adequacy or the accuracy of the contents of this release.
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