Hill Street Announces Warrant Extension and Repricing
Hill Street Announces Warrant Extension and Repricing
Toronto, Ontario--(Newsfile Corp. - November 18, 2022) - Hill Street Beverage Company Inc. (TSXV: HILL) ("Hill Street" or the "Company") announces today that it has extended the expiry date and reduced the exercise price of 11,250,900 warrants (the "Amended Warrants") of the Company which were originally set to expire today, after having received the approval of the TSX Venture Exchange to such amendments. All dollar figures are quoted in Canadian dollars.
安大略省多倫多-(Newsfile Corp.-2022年11月18日)-Hill Street Beverage Company Inc.(多倫多證券交易所股票代碼：Hill)(“希爾街“或”公司“)今天宣佈延長到期日，並下調11,250,900份認股權證的行權價(“經修訂的手令“)，在獲得多倫多證券交易所創業板交易所的批准後，原定於今天到期。所有美元數字均以加元報價。
The new expiry date of the Amended Warrants is March 17, 2023 and the reduced exercise price is $0.05. The Amended Warrants include an accelerated expiry provision such that the exercise period of each of the Amended Warrants is reduced to 30 days if for any 10 consecutive trading days, the closing price of the Company's common shares is equal or greater than $0.0625, with the 30-day expiry period commencing on the day the Company disseminates a press release announcing the commencement of the accelerated expiry period.
經修訂的認股權證的新到期日為2023年3月17日而降價後的行權價格是$0.05。經修訂的認股權證包括一項加速到期條款，規定如在任何連續10個交易日內，本公司普通股的收市價等於或大於0.0625美元，則每份經修訂的認股權證的行使期縮短至30天，而30天的到期期自本公司發佈宣佈開始加速到期日的新聞稿之日起計。
Insiders of the Company hold 7,470,000 of the 17,109,000 total warrants ("Total Warrants") in this series. In accordance with TSX-V policies, only 10%, or 1,709,100, of the Total Warrants are subject to these amendments on a pro-rata basis among such insiders. A portion of the Amended Warrants are held by parties who are considered to be "related parties" of the Company. Therefore, the amendment of Amended Warrants constitutes a "related party transaction" as contemplated by Multilateral Instrument 61-101 Protection of Minority Shareholders in Special Transactions, and TSXV Policy 5.9 - Protection of Minority Shareholders in Special Transactions. However, the exemptions from formal valuation and minority approval requirements provided for by these guidelines can be relied upon as the fair market value of the Amended Warrants does not exceeds 25% of the market capitalization of the Company. A material change report in respect of this related party transaction will be filed by the Company.
公司內部人士持有合共17,109,000份認股權證中的7,470,000份(“總認股權證“)在本系列中。根據多倫多證交所-V政策，只有10%，即1,709,100份總認股權證在該等內部人士中按比例受到這些修訂的影響。經修訂認股權證的一部分由被視為本公司“關連人士”的人士持有。因此，修訂認股權證構成多邊文書61-101“特別交易中少數股東保護”及多倫多證券交易所政策5.9“特別交易中少數股東保護”所預期的“關聯方交易”。然而，由於經修訂認股權證的公平市值不超過本公司市值的25%，因此可信賴本指引所規定的豁免正式估值及少數股東批准的規定。本公司將提交有關本次關聯方交易的重大變更報告。
While the Company is prioritizing the push to achieve positive quarterly cash flow without additional fundraising through its revenue generating and cost containment measures, it believes that the repricing and extension of the Amended Warrants is reasonable and necessary in the context of the overall market, as it increases the likelihood that any additional cash needs of the Company could be financed through the exercise of the Amended Warrants.
雖然該公司正優先推動通過其創收和成本控制措施在不增加籌資的情況下實現正的季度現金流，但它認為，在整體市場的背景下，重新定價和延長修訂權證是合理的，是必要的，因為這增加了公司任何額外現金需求通過行使修訂權證籌集資金的可能性。
About Hill Street Beverage Company Inc. (TSXV: HILL)
關於Hill Street飲料公司(多倫多證券交易所代碼：Hill)
Hill Street Beverage Company Inc. is a progressive non-alcoholic beverage and cannabis solutions company. We are pioneering the space where craft consumer products meet bioscience by combining our deep CPG expertise and our rights to use Lexaria Bioscience Corp.'s ground-breaking DehydraTECH™ patent portfolio for product development, licensing and B2B sales of cannabis ingredients.
希爾街飲料公司。是一家進步的非酒精飲料和大麻解決方案公司。通過將我們深厚的CPG專業知識和我們的使用權相結合，我們正在開創工藝消費品與生物科學相結合的領域利卡里亞生物科學公司的開創性的脱氫技術™大麻成分的產品開發、許可和B2B銷售的專利組合。
For more information on our business activities or to check out Hill Street's award-winning alcohol-free line-up and order product to be delivered straight to your home go to
欲瞭解更多有關我們業務活動的信息或查看希爾街的屢獲殊榮的不含酒精產品陣容和訂購產品直接送貨上門
For more information:
瞭解更多信息:
Matthew Jewell, Chief Financial Officer
matthew@hillstreetbevco.com
馬修·朱厄爾，首席財務官
郵箱：matthew@hillstreetbevco.com
FORWARD-LOOKING STATEMENTS
前瞻性陳述
Statements in this press release may contain forward-looking information. Any statements in this press release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are often identified by terms such as "may", "should", "would", "anticipate", "expects", and similar expressions. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances, such as future availability of capital on favourable terms, may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. The reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement. The forward-looking statements contained in this press release are made as of the date of this press release. The Company does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as required by securities law.
本新聞稿中的陳述可能包含前瞻性信息。本新聞稿中任何非歷史事實的陳述均可被視為前瞻性陳述。前瞻性陳述通常由諸如“可能”、“應該”、“將”、“預期”、“預期”和類似的表達方式來識別。提醒讀者，在準備任何前瞻性信息時使用的假設可能被證明是不正確的。由於許多已知和未知的風險、不確定因素和其他因素，其中許多不是公司所能控制的因素，事件或情況，如未來以有利條件獲得資本，可能會導致實際結果與預測的結果大不相同。提醒讀者不要過度依賴任何前瞻性信息。這些信息雖然在準備時被管理層認為是合理的，但可能被證明是不正確的，實際結果可能與預期的大不相同。本新聞稿中包含的前瞻性陳述明確地受到本警示性聲明的限制。本新聞稿中包含的前瞻性陳述是截至本新聞稿發佈之日作出的。除非證券法要求，否則公司不承擔公開更新或修改任何包含的前瞻性陳述的義務，無論是由於新信息、未來事件或其他原因。
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.
多倫多證券交易所風險交易所及其監管服務提供商(該術語在多倫多證券交易所的政策中定義)均不對本新聞稿的充分性或準確性承擔責任。
Not for dissemination in the United States.
不能在美國傳播。
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