FMN:CC - Fidelity Minerals Applies to Extend Warrant Expiry Dates
(TheNewswire)
Vancouver, BC – TheNewswire - September 19, 2022 – Fidelity Minerals Corp. (TSXV:FMN ) | (OTC:SAIDF) |( FSE:S5GM ) | ( SSE:MNYC)(“ Fidelity Minerals ” or the“ Company ”) announces that it is applying to the TSX VentureExchange (the “ TSXV ” or “ Exchange ”) toextend the expiry date of 9,925,000 common share purchase warrants(the “ Warrants ”) issued by the Company in connection with a privateplacement financing that closed on April 12, 2022. The original termof the Warrants was six months and currently expires on October 12,2022. The Company proposes to extend the expiry date to April 12, 2023(the “ Warrant Extension ”). Noother terms of the Warrants are to be amended and the exercise priceremains at $0.11. The proposed amendment ofthe Warrants is subject to TSXV approval.
Certain of the Warrants are held by parties who areconsidered to be “related parties” of the Company (such warrants,the “Related PartyWarrants”) . Therefore, the amendment of theRelated Party Warrants constitutes a “related party transaction”as contemplated by Multilateral Instrument 61-101 Protection ofMinority Shareholders in Special Transactions, and TSXV Policy 5.9 -Protection of Minority Shareholders in Special Transactions. However,the exemptions from formal valuation and minority approvalrequirements provided for by these guidelines can be relied uponbecause neither the fair market value of the Related Party Warrantsnor the fair market value of the consideration paid for the RelatedParty Warrants exceeds 25% of the market capitalization of theCompany. A material change report in respect of this related partytransaction will be filed by the Company. The extension of theWarrants would only be effective upon TSXV approval and receipt of therequisite confirmation from the holders of the Warrants.
About Fidelity Minerals Corp.
Fidelity Minerals Corp. has assembled a portfolio ofhigh-quality mining assets in Peru and aims to delineate majordeposits on these properties that could attract the interest ofmid-tier and major mining companies. Fidelity has a portfolio of fourkey assets in Peru and is currently focused on progressing its twomost advanced projects – Las Huaquillas and Las Brujas. Fidelity isalso looking to opportunistically expand its project portfolio withaccretive acquisitions. The company is backed by an experiencedmanagement team with diverse technical, market, and commercialexpertise and is supported by committed and sophisticated investorsfocused on building long term value.
On Behalf of the Board,
Dean Pekeski
CEO, President and Director
Tel: +1.778.828.9724
Email: dean@fidelityminerals.com
For more information, please visit the corporatewebsite at http://www.fidelityminerals.com orcontact: dean@fidelityminerals.com
Neither TSXVenture Exchange nor its Regulation Services Provider (as that term isdefined in policies of the TSX Venture Exchange) acceptsresponsibility for the adequacy or accuracy of this release.
Cautionary Statement RegardingForward-Looking Statements
This news release includes certain“forward-looking statements” under applicable Canadian securitieslegislation that are not historical facts. Forward-looking statementsinvolve risks, uncertainties, and other factors that could causeactual results, performance, prospects, and opportunities to differmaterially from those expressed or implied by such forward-lookingstatements. Forward-looking statements in this news release include,but are not limited to, statements with respect to the expectations ofmanagement regarding the proposed Warrant Extension and TSXV approvalof the proposed Warrant Extension. Although the Company believes thatthe expectations reflected in the forward-looking information arereasonable, there can be no assurance that such expectations willprove to be correct. Such forward-looking statements are subject torisks and uncertainties that may cause actual results, performance ordevelopments to differ materially from those contained in thestatements including that: the Company may not complete the WarrantExtension; and the TSXV may not approve the Warrant Extension. Although the Company believes that the assumptions and factors usedin preparing the forward-looking statements are reasonable, unduereliance should not be placed on these statements, which only apply asof the date of this news release, and no assurance can be given thatsuch events will occur in the disclosed time frames or at all. Exceptwhere required by law, the Company disclaims any intention orobligation to update or revise any forward-looking statement, whetheras a result of new information, future events, or otherwise.
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