Jade Leader Announces Early Warrant Exercise Incentive Program
Calgary, Alberta (FSCwire) - Jade Leader Corp. (TSX.V: JADE) (“Jade Leader” or the “Corporation”) announces today that it intends to apply for regulatory approval for a warrant exercise incentive program (the “Program”) designed to encourage the early exercise of up to 3,800,000 of its outstanding unlisted warrants (the “Warrants”).
Jean-Pierre Jutras, President stated, “This is an opportunity for warrant holders to exercise their Warrants early and receive an incentive to do so which will provide a comfortable margin of additional capital to continue the advancement of our Jade exploration programs, both in terms of advancing drill permitting at DJ, and in doing the initial phases of work on our expanding portfolio of jade opportunities.”
Pursuant to the Program, the Corporation is offering an inducement to the Warrant Holders who hold 3,800,000 warrants exercisable at $0.10 per share and who exercise their Warrants during a 20 calendar day early exercise period (the “Early Exercise Period). The 20 day Early Exercise Period will commence upon receipt of regulatory approval. The Corporation will issue an incentive warrant (the “Incentive Warrant”) to a Warrant Holder who exercises their Warrants during the Early Exercise Period. Each Incentive Warrant will entitle the holder to acquire an additional common share at a price of $0.30 per share for a period of two years from the date of issuance. The Incentive Warrants will be subject to a four month hold period from the date of issuance.
If a Warrant Holder determines not to participate in the Incentive Program, the Warrant Holder may exercise their Warrants on their original terms following the expiry of the Incentive Period.
The terms and conditions of the Program and method of exercising Warrants pursuant to the Program will be set forth in a letter which will be delivered to each Warrant Holder. Warrant Holders who wish to participate in the Program will agree to exercise their Warrants and deliver the necessary documents and consideration to the Corporation upon which the Corporation will issue the Incentive Warrants.
On Behalf of the Board of Directors,
Jean-Pierre Jutras, President/Director
The TSX Venture Exchange has neither approved nor disapproved of the contents of this press release.
Except for the historical and present factual information contained herein, the matters set forth in this news release, including words such as “expects”, “projects”, “plans”, “anticipates” and similar expressions, are forward-looking information that represents management of Jade Leader’s internal projections, expectations or beliefs concerning, among other things, future operating results and various components thereof or the economic performance of Jade Leader. The projections, estimates and beliefs contained in such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause Jade Leader’s actual performance and financial results in future periods to differ materially from any projections of future performance or results expressed or implied by such forward-looking statements. These risks and uncertainties include, among other things, those described in Jade Leader’s filings with the Canadian securities authorities. Accordingly, holders of Jade Leader shares and potential investors are cautioned that events or circumstances could cause results to differ materially from those predicted. Jade Leader disclaims any responsibility to update these forward-looking statements.
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Source: Jade Leader Corp. (TSX Venture:JADE, OTC Bulletin Board:MCKRF, FWB:BG6A)
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