07:10:54 EDT Fri 29 Mar 2024
Enter Symbol
or Name
USA
CA



International Zeolite Corp
Symbol IZ
Shares Issued 38,489,462
Close 2022-09-30 C$ 0.155
Market Cap C$ 5,965,867
Recent Sedar Documents

International Zeolite to extend warrant expiry

2022-10-03 13:45 ET - News Release

Mr. Ray Paquette reports

INTERNATIONAL ZEOLITE ANNOUNCES AMENDMENT TO WARRANTS

International Zeolite Corp. has filed an application with the TSX Venture Exchange to amend the terms of certain share purchase warrants of the company originally issued on Oct. 22, 2021, and Dec. 13, 2021, pursuant to a private placement announced on Oct. 1, 2021.

The company is seeking the approval of the TSX-V to amend the expiry dates of each warrant to Oct. 22, 2024, and Dec. 13, 2024, respectively. The exercise price of 24 cents per warrant will remain unchanged.

Currently, insiders of the company hold approximately 30 per cent of the warrants issued pursuant to the October, 2021, private placement.

Certain of the warrants are held by parties who are considered related parties of the company. Therefore, the amendment of the warrants constitutes a related party transaction as contemplated by Multilateral Instrument 61-101, Protection of Minority Shareholders in Special Transactions, and TSX-V Policy 5.9, Protection of Minority Shareholders in Special Transactions. However, since the amendment applies to all the warrants equally on a per-warrant basis and no related party will receive a collateral benefit in connection with the amendment, the restrictions imposed under MI 61-101 and TSX-V Policy 5.9 do not apply to the amendment.

We seek Safe Harbor.

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