February 16, 2024, Vancouver, British Columbia – Supernova Metals Corp. (“SUPERNOVA” or the “Company”) (CSE:SUPR) (OTC:ABETF) (Frankfurt:A1S.F) announces that it intends to extend the expiration date of 1,204,545 warrants (the “Warrants”) originally issued by the Company to the holders on February 25, 2022 by two years.
The Warrants are exercisable into common shares of the Company at a price of $0.145 per common share and currently have an expiry date of February 25, 2024. The Company wishes to extend the expiry date of the Warrants to 4:00PM PST on February 25, 2026. All other terms and conditions of the Warrants, including the exercise price, remain the same.
Ken Brophy, a director of the Company, holds 295,454 Warrants through his company, Accession Management and Consulting Ltd., as a result, the extension of the Warrants is a related party transaction (as defined under Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions (“MI 61-101”). The Company relied upon section 5.5(b) the “Issuer Not Listed on Specified Markets” and exemptions from the formal valuation and minority shareholder approval requirements, respectively, under MI 61-101.
About SUPERNOVA
SUPERNOVA is a resource exploration company focused on acquiring and advancing natural resources opportunities within North America.
ON BEHALF OF THE BOARD
Sean McGrath
CEO and Director
T: 604.737.2303
E: info@supernovametals.com
NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATION SERVICES PROVIDER HAS REVIEWED OR ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.