Vancouver, British Columbia--(Newsfile Corp. - February 6, 2024) - Genix Pharmaceuticals Corporation (TSXV: GENX) (OTCQB: GENPF) ("GENIX" or the "Company") announces that pursuant to its news release of January 18, 2024, the TSX Venture Exchange has approved the Company's application to amend both the exercise price and the warrant accelerator terms, in addition to extending the expiry dates of 3,354,945 previously issued and outstanding warrants (the "Warrants").
The current exercise price of the Warrants will be reduced from $0.30 per warrant share to $0.15 per warrant share. In addition, all of the Warrants will be subject to an accelerator repricing from $0.50 per share to a new accelerator price of $0.25 per share.
Warrant Extension Terms
- 2,101,612* warrants will be extended to July 24, 2025
- 1,253,333* warrants will be extended to August 13, 2025
* The total warrants have been corrected from the following press releases announced on June 22, 2020, July 17, 2020, August 6, 2022, July 20, 2022, July 28 2022.
The Company notes that previous press releases (July 20, 2022 and July 28, 2022) had, due to a clerical error, incorrectly noted the warrants for July at 2,136,612 and Aug at 1,218,333. The full number of warrants remains the same. The Company also notes that the private placement announced on June 22, 2020, July 17, 2020 and August 6, 2020 issued a total of 6,609,894 common shares.
Genix sincerely apologizes for any inconvenience caused by the inadvertent provision of incorrect warrant numbers. We regret any disruptions this may have caused and appreciate your understanding.
About Genix
Genix Pharmaceuticals Corporation is a novel and generic ophthalmic drugs company. The Company is focused on the research, development, manufacture, licensing and sales of novel and innovative healthcare products. In particular, these products include evidence-based, proprietary over-the-counter ("OTC") nutraceuticals, and other single molecule generic drugs that have been shown to deliver consistent and verifiable results in various therapeutic areas.
On Behalf of the Board of Directors,
Mr. Mahmoud Aziz, President, Director
Genix Pharmaceuticals Corporation
For more information regarding Genix Pharmaceuticals Corporation, please contact:
Kevin Bottomley, Director
Tel: +1.604.609.6199
kbottomley@genixpharm.com
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.
Statements included in this announcement, including statements concerning our plans, intentions and expectations, which are not historical in nature are intended to be, and are hereby identified as, "forward‐looking statements". Forward‐looking statements may be identified by words including "anticipates", "believes", "intends", "estimates", "expects" and similar expressions. The Company cautions readers that forward‐looking statements, including without limitation those relating to the Company's future operations and business prospects, are subject to certain risks and uncertainties that could cause actual results to differ materially from those indicated in the forward‐looking statements.
