Vancouver, British Columbia, International Zeolite Corp. (IZC) (the “Company”) (TSX.V: IZ) (OTCPINK: IZCFF) (FSE: ZEON) an international marketer and supplier of natural zeolite and zeolite products, announces that it has filed an application with the TSX Venture Exchange (“TSX-V”) to amend the terms of certain share purchase warrants of the Company originally issued on October 22, 2021 and December 13, 2021, pursuant to a private placement announced on October 1, 2021.
The Company is seeking the approval of the TSX Venture Exchange to amend the expiry dates of each warrant to October 22, 2024, and December 13, 2024, respectively. The exercise price of $0.24 per warrant will remain unchanged.
Currently, insiders of the Company hold approximately 30% of the Warrants issued pursuant to the October 2021 private placement.
Certain of the Warrants are held by parties who are considered “related parties” of the Company. Therefore, the amendment of the warrants constitutes a “related party transaction” as contemplated by Multilateral Instrument 61-101 Protection of Minority Shareholders in Special Transactions and TSX Venture Exchange Policy 5.9 – Protection of Minority Shareholders in Special Transactions. However, since the amendment applies to all the warrants equally on a per warrant basis, and no related party will receive a collateral benefit in connection with the amendment, the restrictions imposed under Multilateral Instrument 61-101 and TSX Venture Exchange Policy 5.9 do not apply to the amendment.
On Behalf of the Board
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Some statements in this news release contain forward-looking information. These statements include, but are not limited to, statements with respect to future expenditures. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements. Such factors include, among others, the ability to complete contemplated work programs and the timing and amount of expenditures. International Zeolite does not assume the obligation to update any forward-looking statement.
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.