International Zeolite Extends Term of Share Purchase Warrants
Vancouver, British Columbia--(Newsfile Corp. - October 23, 2019) - International Zeolite Corp. (TSXV: IZ) (OTC Pink: IZCFF) (FSE: ZEON) (the "Company") an international marketer and supplier of natural zeolite and zeolite products, announces that it has extended the expiry date of 2,947,267 share purchase warrants which were issued as part of a non-brokered private placement on November 7, 2017 (the "Warrants"). The Warrants, which were amended as to exercise price and term in October, 2018, are currently exercisable for common shares of International Zeolite at a price of $0.50 per share until November 7, 2019. Upon regulatory approval, the warrants will be exercisable to purchase common shares at $0.50 per share until November 7, 2021, provided that if, at any time the closing price of the Company's common shares on the TSX Venture Exchange (or such other stock exchange on which the common shares may be traded from time to time) is at or above $0.625 per share for a period of 10 consecutive trading days (the "Triggering Event"), in which event the Company may, within 5 days of the Triggering Event, accelerate the expiry date of the Warrants by giving notice thereof to the holders of the Warrants, by way of news release, and in such case the Warrants will expire on the first day that is 30 business days after the date on which such notice is given by the Company announcing the Triggering Event.
On Behalf of the Board
President & CEO
Some statements in this news release contain forward-looking information. These statements include, but are not limited to, statements with respect to future expenditures. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements. Such factors include, among others, the ability to complete contemplated work programs and the timing and amount of expenditures. International Zeolite does not assume the obligation to update any forward-looking statement.
Neither 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.
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