MONTREAL, June 16, 2020 /CNW/ – Mondias Natural Products
Inc. (TSXV: NHP) (the "Company" or
"Mondias") specializing in evidence-based natural products
for the healthcare and bio-agriculture today announces that it is
proposing to extend the expiry dates and alter the exercise price
of all share purchase warrants (the "Warrants"). These Warrants
were originally issued following a private placement of Element 79,
and then reissued following the qualifying transaction. On
November 26, 2018, the Company
extended its 6,882,760 warrants for a period of 1 year. As a
result, the new maturity date of the warrants is June 20, 2020. The Warrants are exercisable
into common shares in the capital of the Company (the "Shares") at
a price of 0.25 per Share and will expire on June 20, 2020. No warrants have been
exercised to date.
Mondias will extend the expiration of these Warrants to
June 20, 2021 and lower the exercise
price of the Warrants from $0.25 to
$0.10 per Share. In addition, as part
of the Warrants extension and repricing, there will be an
acceleration provision that if the market price is $0.125 or more for ten (10) consecutive trading
days, then the Warrants must be exercised or Warrants will
expire.
About Mondias Natural Products Inc.
Mondias
specializes in the commercialization and development of
evidence-based botanical products for the healthcare,
bio-agriculture and organic markets. The company sells both oral
and topical botanical agents to help manage unmet medical needs
through its Holizen Laboratories division. Mondias is also
developing botanical-based specialty fertilizers for use on
household plants, lawns and golf courses and in urban gardens,
nurseries, commercial greenhouses and to indoor cannabis growers,
in collaboration with McGill's Faculty of Agricultural and
Environmental Sciences.
For more information, visit: www.mondias.ca
Neither the 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.
Forward-looking statements
Some statements in this
release may contain forward-looking information. All statements,
other than statements of historical fact, that address activities,
events or developments that the Company believes, expects or
anticipates will or may occur in the future (including, without
limitation, statements regarding potential acquisitions and
financings) are forward-looking statements. Forward-looking
statements are generally identifiable by the use of the words
"may", "will", "should", "continue", "expect", "anticipate",
"estimate", "believe", "intend", "plan" or "project" or the
negative of these words or other variations on these words or
comparable terminology. Forward-looking statements are subject to a
number of risks and uncertainties, many of which are beyond the
Company's ability to control or predict, that may cause the actual
results of the Company to differ materially from those discussed in
the forward-looking statements. Factors that could cause actual
results or events to differ materially from current expectations
include the Company's inability to obtain sufficient financing to
execute its business plan; competition; regulation; anticipated and
unanticipated costs and delays; the success of the Company's
research and development strategies; the ability to obtain orphan
drug status; the applicability of the discoveries made; the
successful and timely completion and uncertainties related to the
regulatory approval process; the timing of clinical trials; the
timing and outcomes of regulatory or intellectual property
decisions; and other risks disclosed in the Company's public
disclosure record on file with the relevant securities regulatory
authorities. Although the Company has attempted to identify
important factors that could cause actual results or events to
differ materially from those described in forward-looking
statements, there may be other factors that cause results or events
not to be as anticipated, estimated or intended. Readers should not
place undue reliance on forward-looking statements. The
forward-looking statements in this news release are made as of the
date of this news release, and the Company does not undertake any
obligation to publicly update them to reflect new information or
subsequent events or otherwise except as required by applicable
securities legislation.
SOURCE Mondias Natural Products Inc.