TMCnet News
Peeks Social Ltd. Applies for Warrant RepricingTORONTO, Jan. 20, 2020 (GLOBE NEWSWIRE) -- Peeks Social Ltd. (the “Company”) (TSX.V: PEEK) (OTCQB: PKSLF) reports that at the request of certain debenture holders, it has applied to the TSX Venture Exchange (the “Exchange”) for a repricing of warrants that were issued in conjunction with a $500,000 convertible debenture financing that closed in December 2018 (the “Offering”). Under the terms of the Offering, the Company issued 5,250,000 common share purchase warrants (the “Warrants”). Each Warrant entitled the holder thereof to acquire one additional Common Share at a price of $0.15 per Common Share for a period of 2 years. The debentures and Warrants contained a provision that if the Company subsequently issued common shares at a price of less than $0.10 per common share, the Company would reduce the conversion price of the debentures, as well as reduce the exercise price of the warrants, subject to the approval of the Exchange./p>
The Company will issue an update in due course following acceptance or rejection of the Company’s application by the Exchange. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) has reviewed or accepts responsibility for the adequacy or accuracy of this Release.
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