VAL D'OR, QUEBEC -- (Marketwired) -- 09/10/13 -- Active Growth Capital Inc. (TSX VENTURE: ACK) ("ACK" or the "Corporation") announces that it proposes, subject to TSX Venture Exchange (the "Exchange") approval, to amend an aggregate of 1,800,000 common share purchase warrants (the "Warrants") by reducing the exercise price from $0.50 to $0.15 and extending the expiry date from December 13, 2013 to December 13, 2015.
The Warrants were originally issued in conjunction with the Corporation's December 12, 2012 private placement.
In accordance with Exchange Policy 4.1 the exercise period of the re-priced Warrants will be reduced to 30 days if for any ten consecutive trading (the "Premium Trading Days") during the unexpired term of the Warrants the closing price of the Company's listed shares exceeds $0.20. This 30 day period will commence seven calendar days after the tenth Premium Trading Day, of the total proposed amended Warrants, 10% of the Warrants are held by insiders of the Corporation, which accepted, for the benefit of all participants in the aforementioned private placement, to have only half of their Warrants re-priced in order for the re-pricing to meet the Exchange's policies.
The Corporation also announces the resignation of Mr. Jean-Francois Lemay as director. The Corporation is currently in discussion with candidates to fulfill the outstanding director and officer's positions.
About Active Growth Capital
Active Growth is a TSX listed junior mineral exploration issuer whose long-term objective is to build a diversified company focused on the acquisition, exploration and development of mineral properties. Additional information about the Corporation is available on SEDAR at www.sedar.com.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
Active Growth Capital Inc.
Most Popular Stories
- Shia LaBeouf Plea Deal, Alcoholism Treatment
- Ohio State Band Chief Fired After Probe
- Hispanic Leader Goes the Extra Mile
- Stop-Start Engines Save Gas, Reduce Emissions
- Jennifer Lopez, Pitbull to Perform at Fashion Rocks
- Ukraine Says Russians Firing Across the Border
- Ford Q2 Net Profit up 6 Percent
- U.S. Weighs Refugee Status for Immigrant Kids
- Ricky Martin Joins 'The Voice ... Mexico'
- Morgan Stanley Ponies Up $275 Million to Settle SEC Charges