Mondias Announces Warrants extension and repricing
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
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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.