CROP Announces Warrant Exercise Incentive Program – Yahoo Finance

VANCOUVER, British Columbia, Aug. 21, 2019 (GLOBE NEWSWIRE) — CROP Infrastructure Corp. (CSE:CROP) (CRXPF) (2FR.F) (“CROP” or the “Company”), announces today a warrant exercise incentive program (the “Program”) intended to encourage the exercise of up to 31,811,536 outstanding common share purchase warrants (collectively, the “Eligible Warrants”) of the Company with expiry dates as follows:

Exercise PriceGrant DateExpiry Date $0.55 May 1, 2018 November 2, 2018 $0.50 June 11, 2018 June 2, 2019 $0.75 June 26, 2018 June 20, 2020 $0.50 August 2, 2018 August 2, 2020 $0.50 September 7, 2018 September 7, 2020 $0.75 September 28, 2018 September 28, 2020 $0.50 November 2, 2018 November 2, 2020 $0.50 November 26, 2018 May 26, 2019 $0.50 February 5, 2019 February 5, 2021

Pursuant to the Program, the Company is offering an inducement to each holder of Eligible Warrants (collectively, the “Warrant Holders”) that exercises Eligible Warrants during an early exercise period (the “Early Exercise Period”) that includes:

  • a reduced exercise price of $0.13 per common share (each, a “Share”); and
  • an additional Share purchase warrant (each an “Incentive Warrant”), with each Incentive Warrant entitling the Warrant Holder to purchase one additional Share until 5:00 p.m. (Vancouver time) on such date as is two years from the date of issuance of the Incentive Warrant at a price of $0.35 per Share.

    The Early Exercise Period will commence on August 21, 2019, at 9.00 a.m. (Vancouver time) and expire on September 6, 2019 at 5:00 p.m. (Vancouver time). Eligible Warrants that remain unexercised following the completion of the Early Exercise Period will continue to be exercisable for Shares on the original terms as they existed prior to the Program.

    If, at any time during the Early Exercise Period, the closing price of the Shares on the Canadian Stock Exchange (“CSE”) exceeds $0.1625 per Share

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