VANCOUVER, BC, July 19,
2023 /CNW/ - Group Eleven Resources Corp. (TSXV: ZNG)
(OTC: GRLVF) (FRA: 3GE) ("Group Eleven" or the
"Company") announces that the TSX Venture Exchange has
approved the previously announced extension of warrants (the
"Warrants") of the Company which were to otherwise expire on
July 28, 2023.
The Company has extended the expiry date of the
12,916,667 Warrants granted on July 28,
2020, with each Warrant entitling the holder to purchase one
common share of the Company, as follows:
|
Certificate
Numbers
|
Aggregate Number
of Warrants
Outstanding
|
Issue
Date
|
Exercise
Price
|
Original
Expiry Date
|
New Expiry
Date
|
|
WA-2020-07-
001 through
WA-2020-07-014
|
12,916,667
|
July 28,
2020
|
C$0.12
|
July 28,
2023
|
October 28,
2024
|
Certain Warrants which were extended are held by insiders of the
Company, and the extension of such Warrants constitutes, to that
extent, a "related party transaction" within the meaning of
Exchange Policy 5.9 and Multilateral Instrument 61-101 –
Protection of Minority Shareholders ("MI 61-101").
The Company has relied on the exemptions from the valuation and
minority shareholder approval requirements of MI 61-101 (and Policy
5.9) contained in sections 5.5(b) and 5.7(1)(b) of MI 61-101 in
respect of such insider participation.
About Group Eleven
Resources
Group Eleven Resources Corp. (TSX.V: ZNG; OTC: GRLVF and FRA:
3GE) is a mineral exploration company focused on advanced stage
zinc exploration in Ireland.
Additional information about the Company is available at
www.groupelevenresources.com.
ON BEHALF OF THE BOARD OF DIRECTORS
Bart Jaworski, P.Geo.
Chief Executive Officer
Neither 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 release.
SOURCE Group Eleven Resources Corp.
