VANCOUVER, British Columbia, June 30, 2023 -- Biocure Technology Inc. (“Biocure” or the “Company”) (CSE:CURE) announces it intends to amend the terms of 6,706,525 share purchase warrants originally issued on July 14, 2021, as part of a private placement (the “Warrants”). The Warrants expire on July 14, 2023.
The Company wishes to extend the warrant term to July 14, 2026 and reduce the exercise price of the Warrants from $0.21 to $0.05 subject to the approval of the Canadian Securities Exchange and the consent of each of the holders of the Warrants. The amendment will require the incorporation of an accelerated expiry provision such that the remaining exercise period of the warrants will be reduced to 30 days if, for any 10 consecutive trading days during the unexpired term of such of the warrants, the closing price of the corporation's common shares exceeds the amended exercise price by 25% or more (which would be a trading price of $0.625 per common share or higher), with the 30-day expiry period commencing on the day the corporation disseminates a press release advising of the commencement of the exercise period.
The Company also announces that Berkan Unal has resigned from its board of directors. The Company would like to thank Mr. Unal for his contributions to the Company and wish him all the best for the future. The Company will be seeking suitable candidates to enhance the composition of the board of directors in the future.
ON BEHALF OF THE BOARD OF DIRECTORS
/S/ “SANG MOK LEE”
CEO and Director
For further information, please contact:
Biocure Technology Inc. Telephone: 604-609-7146, or This email address is being protected from spambots. You need JavaScript enabled to view it.
PRESS RELEASE ON PDF
Certain statements in this news release, which are not historical in nature, constitute “forward looking statements” within the meaning of that phrase under applicable Canadian securities law. These statements include, but are not limited to, statements or information concerning the Company’s proposed activities under the Agreement and the expectations of the Company regarding funding payments due pursuant to the Agreement. These statements reflect management’s current assumptions and expectations and by their nature are subject to certain underlying assumptions, known and unknown risks and uncertainties and other factors which may cause actual results, performance or events to be materially different from those expressed or implied by such forward looking statements.
Except as required pursuant to applicable securities laws, the Company will not update these forward- looking statements to reflect events or circumstances after the date hereof. More detailed information about potential factors that could affect financial results is included in the documents filed from time to time with the Canadian securities regulatory authorities by the Company. Readers are cautioned not to place undue reliance on forward looking statements.
Neither the Canadian Securities Exchange (the “CSE”) nor the Investment Industry Regulatory Organization of Canada) accepts responsibility for the adequacy or accuracy of this release.
