06:39:47 EDT Thu 28 Mar 2024
Enter Symbol
or Name
USA
CA



Discovery Harbour Resources Corp
Symbol DHR
Shares Issued 53,393,513
Close 2015-09-03 C$ 0.035
Market Cap C$ 1,868,773
Recent Sedar Documents

Discovery Harbour holders may elect to extend warrants

2015-09-04 16:38 ET - News Release

Mr. Frank Hegner reports

DISCOVERY HARBOUR ANNOUNCES WARRANT EXTENSION

Discovery Harbour Resources Corp. has applied to the TSX Venture Exchange for an amendment to the terms of the 12,217,000 warrants issued in connection with the company's private placement that closed in September, 2013. In consideration of the extension, the warrantholders will be required to pay to the company an extension fee of one cent per warrant. The company proposes to extend the expiry date of the warrants from Sept. 10, 2015, to Dec. 31, 2016. All other terms of the warrants, including the exercise price of 20 cents, will remain the same. The extension of the expiry date is subject to the approval of the TSX Venture Exchange.

Of the warrants issued, 10 million warrants are held by Richard Gilliam, a holder of more than 20 per cent of the outstanding common shares of the company, and one million warrants are held by Westwood Tall Oaks LLC, a trust over which Mr. Gilliam has control and direction. The holders of these 11 million warrants have agreed to pay the one-cent consideration, but the company has not yet contacted the holders of the remaining 1,217,000 warrants. Assuming the approval of the TSX-V is received, the extension of the extended warrants will be effective as of Sept. 10, 2015.

We seek Safe Harbor.

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