- On December 17, 2019
VANCOUVER, BC (December 17, 2019) – RESAAS Services Inc. (TSX-V: RSS, OTCQB: RSASF), a technology platform for the real estate industry, today announced the acceleration of the expiry date of 12,000,000 warrants.
The Company had previously announced, in an October 2, 2019 news release, that 12,000,000 warrants with an exercise price of $0.30 and expiry dates between May 31, 2020 and September 24, 2020 were amended to an exercise price of $0.20 (the “Repriced Warrants”).
The Repriced Warrants were subject to acceleration whereby if the closing price of the Company’s common shares is at or above $0.25 for ten consecutive trading days (the “Trigger Date”), the expiry date is accelerated to a date that is 30 days from the Trigger Date (“Warrant Expiry Acceleration”).
On December 12, 2019, the Company’s common shares traded at or above $0.25 for ten consecutive trading days, resulting in activation of the Warrant Expiry Acceleration.
Consequently, holders of the Repriced Warrants have until 5:00pm PST on January 11, 2020 to exercise their Amended Warrants, after which dates and times such warrants will have expired.