Brunswick Exploration Announces an Amendment to Its Stock Option Plan and Extension of Expiry Date of Warrants
June 21 2022 - 7:00AM
Brunswick Exploration Inc.
(“
Brunswick” or the
“Corporation”) (
TSX-V: BRW) is
pleased to announce that on April 26, 2022, its Board of Directors
of Brunswick approved an amendment to the stock option plan of
Brunswick (the “Stock Option Plan”) to increase the number of
common shares of the Corporation reserved for issuance under the
Stock Option Plan from 5,000,000 to 13,000,000.
The Corporation has also received approval from
the TSX Venture Exchange on the extension of 3,071,199 common share
purchase warrants (the “Warrants”) which were issued as part of the
private placement of the Corporation on May 17, 2022. The Warrants,
originally set to expire on May 17, 2024, will now expire on May
17, 2025. Holders of Warrants will not receive an amended Warrant
certificate.
A portion of the Warrants are held by parties
who are considered to be “related parties” of the Corporation.
Therefore, the amendment of Warrants constitutes a “related party
transaction” as contemplated by Multilateral Instrument
61-101 Protection of Minority Shareholders in Special
Transactions (“MI 61-101”), and Exchange Policy 5.9
– Protection of Minority Shareholders in Special Transactions.
However, the exemptions from formal valuation and minority approval
requirements provided for under sections 5.5(a) and 5.7(1)(a) of MI
61-101 can be relied upon as the fair market value of the Warrants
does not exceed 25% of the market capitalization of the
Corporation.
About Brunswick
The Corporation is a Montreal-based mineral
exploration venture listed on the TSX Venture Exchange under symbol
BRW. The Corporation is focused on grassroot exploration for metals
necessary to decarbonization and energy transition with a
particular focus on lithium, tin, nickel and copper. The
Corporation is focused on rapidly advancing the most extensive
grassroot lithium exploration claim package in Eastern Canada.
Neither TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in policies
of the TSX Venture Exchange) accepts responsibility for the
adequacy or accuracy of this release.
Investor Relations/information:
Mr. Killian Charles, President
Telephone: (514) 861-4441
info@brwexplo.ca
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