TORONTO, May 5 /CNW/ - Microbix Biosystems Inc. (TSX:MBX) Microbix is pleased to announce it has agreed to extend the expiry date of 200,000 share purchase warrants (the “Warrants”) and 28,000 broker’s warrants (the “Broker’s Warrants”) which were issued in connection with the first tranche of Microbix’s March 31, 2011 private placement.
Each Warrant entitles the holder to purchase one common share of Microbix at a price of $0.45 until March 31, 2013 and each Broker’s Warrant entitles the holder to purchase one Unit at a price of $0.42 until March 31, 2013. Each Unit consists of one common share and one half common share purchase warrant. Each whole warrant entitles the holder to purchase one common share at a price of $0.45 for a period of 24 months. Microbix has applied to the TSX to extend the expiry date of the Warrants and Broker’s Warrants until April 19, 2013, then same expiry date for the Warrants issued in the second tranche of the private placement. The exercise price of the Warrants and Broker’s Warrants remains unchanged.
The holders of the Warrants and Broker’s Warrants are at arm’s length to Microbix. The extension of the expiry dates of the Warrants and Broker’s Warrants is subject to TSX approval.