Ynvisible Interactive Announces Acceleration Of Warrant Expiry Date
March 18, 2021
Vancouver, Canada, March 18, 2021 – Ynvisible Interactive Inc. (the "Company" or "Ynvisible") (TSX-V: YNV, FSE: 1XNA, OTCQB: YNVYF) an emerging printed and flexible electronics company, announces that it has elected to exercise its right to accelerate the expiry date of its common share purchase warrants issued January 9, 2019, and June 5, 2019, and each exercisable into a common share in the capital of the Company at an exercise price of $0.60 (the “Warrants”).
The Warrants bear an acceleration provision providing that, if for the preceding seven consecutive trading days, the daily volume weighted average trading price of the Company’s common shares is greater than $0.75, the Company is entitled to accelerate the expiry date of the Warrants to the date that is the 30th day after the date of this news release, which serves as the required notice to the holders of the Warrants.
The Warrants will now expire at 5:00 p.m. (Vancouver time) on April 17, 2021 (the “Accelerated Expiry Time). Warrants that have not been exercised by the Accelerated Expiry Time will automatically be void and cease to have any effect.
Over 90% of the Warrants have already been exercised generating approximately $4.9 million in gross proceeds to the Company. As of today’s date, a total of 881,295 Warrants remain outstanding. If all remaining Warrants are exercised, additional proceeds to the Company will total approximately $539,000.
The Company intends to use the proceeds of the Warrants exercised for productization, marketing, increasing production capacity, and general working capital.
For information on the Warrant exercise procedure, existing Warrant holders interested in exercising Warrants may contact the Company via email to IR@ynvisible.com and firstname.lastname@example.org.