October 24, 2024 4:01 PM EDT | Source: Stamper Oil & Gas Corp.
Vancouver, British Columbia–(Newsfile Corp. – October 24, 2024) – Stamper Oil & Gas Corp. (TSXV: STMP) (“Stamper” or the “Company”) has submitted an application to the TSX Venture Exchange to extend the expiry dates of 9,056,727 share purchase warrants originally granted in a private placement that closed in October and November 2023. The new expiry dates for these warrants, once accepted by the Exchange, will be October 26, 2025, November 3, 2025, and November 22, 2025.
Furthermore, the Company is looking to modify the exercise price of the warrants from $0.07 to $0.05, pending receipt of signed consent from each warrantholder and final approval from the Exchange. The Company is currently in the process of obtaining these consents and expects to have them returned by the end of next week. The Amended Warrants will allow the holder to purchase one common share of the Company at $0.05.
Each Amended Warrant includes provisions for accelerated expiry under certain conditions. For instance, if the closing price of the common shares reaches or exceeds $0.50 per share for five consecutive trading days, the Company may issue an Acceleration Notice to the holders, expediting the expiry date of the warrants. In such a scenario, any Amended Warrants not exercised within thirty days of the Acceleration Notice will expire thirty days from the notice date.
If the closing price of the common shares remains at $0.0625 or higher for ten consecutive trading days after the modification, the exercise period of the Amended Warrants will be reduced to 30 days. This reduced exercise period will begin no more than 7 calendar days after the tenth Premium Trading Day.
About Stamper Oil & Gas
Stamper Oil & Gas Corp. (TSX-V: STMP) is an “Energy Commodity Focused” resource company that aims to acquire interests in mineral and/or oil & gas resource properties focused on energy creation, storage, or delivery. The Company is dedicated to evaluating and developing future prospects into viable commercial assets to generate sustainable shareholder value.
ON BEHALF OF THE BOARD OF DIRECTORS
“Bryson Goodwin”
Bryson Goodwin, President & CEO
Chairman of Board of Directors
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
This news release contains certain statements that may be deemed “forward-looking” statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company management on the date the statements are made. Except as required by law, the Company undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/227721
