Vancouver, B.C., November 14, 2019: New Tech Minerals Corp (NTM-CSE) ("New Tech" or the "Company") announces that it is amending (the "Amendment") the terms of 10,893,333 common share purchase warrants of the Company (each, an "Existing Warrant") previously issued pursuant to a non-brokered private placement that closed on December 6, 2018. Each Existing Warrant was originally exercisable by the holder thereof to purchase one common share of the Company (each, a "Common Share") at a price of $0.10 per Common Share for a period of 36 months following the date of issuance. Effective November 15, 2019, each Existing Warrant subject to the Amendment will be amended to be exercisable by the holder thereof to purchase one Common Share at an exercise price of $0.05 per Common Share for a period of 60 months following the date of issuance (each amended Existing Warrant, an "Amended Warrant"). Pursuant to the policies of the Canadian Securities Exchange, a maximum of 10% of the Amended Warrants (or 1,089,333 Amended Warrants) will be allocated pro rata among the insiders of the Company holding Existing Warrants.
The Company will be issuing replacement certificates representing the Amended Warrants to the holders of Existing Warrants.
About New Tech Minerals Corp.
New Tech is engaged in the exploration and development of promising potash/brine, cobalt and vanadium projects in America, including the Paradox Basin Potash and the Brine project in Utah, the Buena Vista and Tule cobalt projects in Nevada and the Fredericktown cobalt project in Missouri.
On behalf of the Board of Directors
Jonathan George, President & CEO
Neither the OTCQX nor the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
Statements in this press release other than purely historical information, including statements relating to the Company’s future plans and objectives or expected results, and the Company's intention to amend the terms of the Existing Warrants are "Forward-Looking Statements" within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended and Canadian securities laws. Forward Looking Statements are based on numerous assumptions and are subject to all of the risks and uncertainties inherent in the Company’s business, including risks inherent in resource exploration and development. As a result, actual results may vary materially from those described in the Forward Looking Statements.
Key assumptions upon which the Company’s forward-looking statements and information are based include, without limitation, assumptions about general business and economic conditions. These assumptions should be considered carefully by readers. Readers are further cautioned that the foregoing list of assumptions is not exhaustive. Although the Company believes that the assumptions on which the forward-looking statements or information are made are reasonable, based on the information available to the Company on the date such statements were made, no assurances can be given as to whether these assumptions will prove to be correct.