VANCOUVER, BC / ACCESSWIRE / January 14, 2020 / EnviroLeach Technologies Inc. (the "Corporation" or "EnviroLeach")(CSE:ETI) (OTCQB:EVLLF) (FSE:7N2)announces that the Company intends to amend the exercise price of 6,700,000 outstanding warrants (the "Warrants") that were originally issued in connection with its brokered and non-brokered private placement offering of units, closed on February 28, 2018 and March 1, 2018. The foregoing Warrants are set to expire on February 28, 2020 and March 1, 2020.
The exercise price of the Warrants is being re-priced to $1.33 per share. As required by the policies of the Canadian Securities Exchange, the Warrants will also be amended such that the expiry date of the Warrants will be subject to additional acceleration as follows: if the closing price (or closing bid price on days when there are no trades) of the common shares on the Canadian Securities Exchange exceeds the amended exercise price by 20% or more for 10 consecutive trading days, then, upon the Company sending Warrant holders notice of acceleration of the expiry date and issuing a news release announcing such accelerated expiry date, the Warrants will only be exercisable for a period of 30 days following the date on which notice is sent to the Warrant holders. All other terms of the Warrants shall remain the same.
None of the Warrants, which were exercisable at from $2.50 per share, have been exercised in the last six months. Insiders of the Company do not hold any of these Warrants.
The amendments are subject to the acceptance of the Canadian Securities Exchange and the consent of the Warrant holders.
About EnviroLeach Technologies Inc.
EnviroLeach Technologies is a technology company and near-term gold producer that is engaged in the development and commercialization of environmentally friendly formulas and technologies for the treatment of materials in the mining and E-Waste sectors. Using its proprietary non-cyanide, water-based, near neutral pH treatment process, EnviroLeach extracts precious metals from ores, concentrates, and E-Waste using only FDA approved additives to ambient temperature water.
EnviroLeach Technologies Inc.
President & CEO
SOURCE: EnviroLeach Technologies Inc.
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