VANCOUVER, BC, Dec. 21, 2021 /CNW/ - good natured Products Inc.
(the "Company" or "good
natured®") (TSXV: GDNP) today announced
that it has elected to exercise its right under the terms of the
warrant indenture dated August 31,
2020 (the "Warrant Indenture") between the Company and TSX
Trust Company (the "Warrant Agent") to accelerate the expiry date
of certain warrants to purchase common shares of the Company
("Common Shares") issued on August 31,
2020 and September 30, 2020
(the "Warrants"). The Warrants were issued to investors in the
Company's private placement financings of units completed on such
dates as announced by the Company in its press releases of
September 1, 2020 and October 1, 2020.
The expiry date of the Warrants has been accelerated to
5:00 p.m. (Eastern Standard Time) on
January 28, 2022. Any Warrants
remaining unexercised after 5:00 p.m.
(Eastern Standard Time) on January
28, 2022, will expire and will thereafter be of no force or
effect.
Pursuant to the Warrant Indenture, the Company has the right to
accelerate the expiry date of the Warrants to a date that is 30
days plus five business days following delivery of an Acceleration
Notice (as described in the Warrant Indenture) to the Warrant
Agent, if the Company's common shares have traded on the TSX-V
on 20 consecutive trading days at greater than a volume-weighted
average trading price of $0.32. The
Company calculates that, on the 20 trading days between
November 19, 2021, and December 16, 2021 inclusive, the volume-weighted
average trading price of the Common Shares on the TSX-V was
$0.86.
As of December 16, 2021, a total
of 2,694,575 Warrants remained outstanding. Each Warrant has an
exercise price of $0.21. If all
outstanding Warrants are exercised, proceeds to the Company will
total $610,087; however, there can be
no assurance that any of the Warrants will be exercised.
About good natured Products Inc.
good
natured® is passionately pursuing its goal of
becoming North America's leading
earth-friendly product company by offering the broadest assortment
of eco-friendly options made from plants instead of petroleum.
We're all about making it easy and affordable for business owners
and consumers to switch to better everyday products®
made from renewable materials and free from chemicals of
concern.
Part of the sustainable consumer goods market, good
natured® offers over 400 products and services
through wholesale and retail channels, including our own e-commerce
stores. From plant-based home organization products to compostable
food containers, bioplastic industrial supplies and medical
packaging, we're focused on delivering a great customer experience
and to make more plant-based products readily accessible to more
people as the path to deliver meaningful environmental and social
impact.
For more information: goodnaturedproducts.com
On behalf of the Company:
Paul Antoniadis – Executive Chair & CEO
Contact: 1-604-566-8466
Investor Contact:
Spencer Churchill
Investor Relations
1-877-286-0617 ext. 113
invest@goodnaturedproducts.com
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibilities for the adequacy or
accuracy of this release.
SOURCE Good Natured Products