GSP Resource Corp. Announces Warrant Repricing
News Release – Vancouver, British Columbia – October 26, 2023: GSP Resource Corp. (TSX-V: GSPR) (the “Company” or “GSP”) announces that, subject to certain conditions and the approval of the TSX Venture Exchange (the “Exchange”), it intends to reprice certain share purchase warrants of the Company originally issued on June 19, 2023.
A total of 3,000,000 share purchase warrants (the “Warrants”) were originally issued by the Company pursuant to the closing of a private placement on June 19, 2023 (see GSP’s news release dated June 19, 2023). As issued, each Warrant entitles the holder to purchase one common share of the Company at a price of $0.20 per common share for a period of thirty-six months from the date of issuance. No Warrants have been exercised to date.
The Company is seeking the approval of the Exchange to reduce the exercise price of the Warrants to $0.12 per common share. All other terms of the Warrants will remain the same. Insiders of the Company hold an aggregate of 150,000 Warrants.
The proposed amendment to reprice the Warrants is subject to the approval of the Exchange.
About GSP Resource Corp.: GSP Resource Corp. is a mineral exploration & development company focused on projects located in Southwestern British Columbia. The Company has an option to acquire a 100% interest and title to the Alwin Mine Copper-Gold-Silver Property in the Kamloops Mining Division, as well as an option to acquire 100% interest and title to the Olivine Mountain Property in the Similkameen Mining Division, of which it has granted an option to earn a 60% interest to a third party.
Contact Information – For more information, please contact:
Simon Dyakowski, Chief Executive Officer & Director
Tel: (604) 619-7469
Email: simon@gspresource.com
Neither the 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 news release.
Forward Looking Information
This news release contains “forward‐looking information or statements” within the meaning of applicable securities laws, which may include, without limitation, statements that address Exchange approval of the proposed amendments to reprice the Warrants, the technical, financial and business prospects of the Company, its projects and other matters. All statements in this news release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, including the price of metals, the ability to achieve its goals, that general business and economic conditions will not change in a material adverse manner, that financing will be available if and when needed and on reasonable terms. Such forward-looking information reflects the Company’s views with respect to future events and is subject to risks, uncertainties and assumptions, including the risks and uncertainties relating to the interpretation of exploration results, risks related to the inherent uncertainty of exploration and cost estimates and the potential for unexpected costs and expenses, and those filed under the Company’s profile on SEDAR+ at www.sedarplus.ca. Factors that could cause actual results to differ materially from those in forward looking statements include, but are not limited to, continued availability of capital and financing and general economic, market or business conditions, adverse weather and climate conditions, failure to maintain or obtain all necessary government permits, approvals and authorizations, failure to maintain or obtain community acceptance (including First Nations), decrease in the price of copper, gold, silver and other metals, increase in costs, litigation, and failure of counterparties to perform their contractual obligations. The Company does not undertake to update forward‐looking statements or forward‐looking information, except as required by law.
