Getchell Gold Corp., a Canadian-based gold exploration and development company, announced today that it is extending the expiry date of its warrants issued pursuant to its private placement completed on January 30, 2020.
The warrants were initially set to expire on January 30, 2021, but have now been extended to May 31, 2021. Getchell Gold Corp. is encouraging current holders of the warrants to take advantage of this extension to create long-term value for their holdings.
The private placement, which closed on January 30, 2020, included the issuance of 3,600,000 common shares at a price of $0.15 CAD per share, for aggregate proceeds of $540,000 CAD. Pursuant to the private placement, 1,800,000 warrants were issued at a price of $0.20 CAD per warrant.
Getchell Gold Corp. noted that the warrants are exercisable to acquire common shares of the company. Each warrant entitles the holder to acquire one common share at an exercise price of $0.20 CAD until the expiration date.
The extension of the warrants is giving warrant holders a greater opportunity to capitalize on the potential upside of their holdings with the company. Getchell Gold Corp. believes that this extension will provide its warrant holders with the potential to benefit from the ongoing gold exploration and development activities on its McCoy Project as well as its other current operations.
The McCoy Project is currently in an active exploration and development stage and the company is looking forward to continuing to develop its current activities into the new year.
Getchell Gold Corp. is further incentivizing these warrant holders by offering an additional extension of time for the exercise of any remaining unexercised warrants so long as such holders exercise such warrants by or before August 15, 2021.
This extension of the warrants is a sign of the company’s commitment to its investors and its determination to maximize the value of its current holdings. Getchell Gold Corp. is confident that its strategy will be successful and will create long-term value for its warrant holders.