VANCOUVER, British Columbia, Oct. 19, 2023 (GLOBE NEWSWIRE) — Ceylon Graphite Corp. (“Ceylon” or the “Company”) (TSX-V: CYL) (OTC: CYLYF) (FSE: CCY) announces that it intends to extend the exercise period for a total of 50,928,566 common share purchase warrants, all of which are exercisable at $0.15 per common share (collectively, the “Warrants”).
The Warrants were issued pursuant to a private placement that closed in tranches on October 22, 2020 (the “First Tranche”) and October 28, 2020 (the “Second Tranche”). 30,163,566 Warrants were issued in the First Tranche with 500,000 Warrants having been exercised, leaving 29,663,566 First Tranche Warrants outstanding, and 21,265,000 Warrants were issued in the Second Tranche, all of which remain outstanding. The Company proposes to extend the expiry dates of these Warrants by one year, such that the new expiry date for the Warrants will be October 22, 2024 for the First Tranche Warrants and October 28, 2024 for the Second Tranche Warrants. All other terms and conditions of the Warrants remain unchanged. The Warrant extension is subject to acceptance by the TSX Venture Exchange.
About Ceylon Graphite Corp.
Ceylon is a public company listed on the TSX Venture Exchange, that is in the business of mining for graphite, and developing and commercializing innovative graphene and graphite applications and products. Graphite mined in Sri Lanka is known to be some of the highest grade in the world and has been confirmed to be suitable to be easily upgradable for a range of applications including the high-growth electric vehicle and battery storage markets as well as construction, healthcare and paints and coatings sectors.
Further information regarding Ceylon is available at www.ceylongraphite.com
Sasha Jacob, Chief Executive Officer and Rita Thiel, Chair of the Board of Directors
info@ceylongraphite.com
Corporate Communications
+1(604) 924-8695
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release
Cautionary Statement Regarding Forward-Looking Information:
This news release contains forward-looking information as such term is defined in applicable securities laws, which relate to future events or future performance and reflect management’s current expectations and assumptions. The forward-looking information includes statements about the…
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