Margaret Lake Announces Warrant Repricing

Core Points - The company intends to reprice 1,665,000 of its outstanding share purchase warrants issued during a non-brokered private placement that closed on February 14, 2023 [1] - The original issuance included a total of 20,000,000 warrants with an exercise price of $0.05, expiring on February 14, 2026, which were later consolidated to 2,000,000 warrants at an exercise price of $0.50 [2] - The repricing will adjust the exercise price of the 1,665,000 warrants to $0.20, with an acceleration clause if the market price reaches $0.25 for ten consecutive trading days [3] Summary by Sections Repricing of Warrants - The company plans to reprice a total of 1,665,000 warrants, with 200,000 of these held by directors and officers being repriced on a pro rata basis [3] - The new exercise price will be set at $0.20 per warrant, with the same expiration date of February 14, 2026 [3] Approval and Governance - The proposed amendments to the warrants are subject to approval by the TSX Venture Exchange [4] - The changes have been authorized and approved by the Board of Directors [4]