Hi-View Resources Inc. (‘Hi-View' or the ‘Company’)
(CSE:
HVW; OTCQB: HVWRF; FSE: B63) is pleased to announce it has
received approval from Depository Trust Company ("DTC") to make its
common shares eligible for settlement in the US under ticker symbol
“HVWRF”. Hi-View is now eligible for electronic clearing and
settlement through DTC's automated processes. DTC is a stock
depository that facilitates and manages the electronic clearing and
settlement of publicly traded companies in the United States.
The Company will be launching its summer work
program in the coming weeks on its mining properties in the
Toodoggone region of northern BC, to include further rock and soil
sampling, analysis of assayed samples from the previous program,
geological reports and other geological services.
In addition, the Company intends, effective July
31, 2024, to extend the expiry date of an aggregate of 6,000,000
outstanding common share purchase warrants (the “Warrants”) to
September 30, 2025, subject to acceleration provisions described
below (“Acceleration Provisions”) and further amend the exercise
price to $0.05 (the “Warrant Amendments”). The Acceleration
Provisions provide that if for any 10 consecutive trading days
prior to the expiry date (a “Premium Trading Period”) the closing
price of the common shares of the Company on the CSE exceeds the
amended exercise price by an amount equal to the maximum permitted
discount permitted by CSE Policy, the expiry date of the amended
warrants will be accelerated such that the amended warrants will
expire 30 days from the date which is 7 days following the 10th day
of the applicable Premium Trading Period. All other terms of the
Warrants will remain unchanged. The Warrant Amendments remains
subject to acceptance by the CSE. The Warrants were originally
issued between January 27, 2022 August 2, 2023 at exercise prices
between $0.10 and $0.20.
Two directors and officers of the Company,
beneficially own 500,000 Warrants collectively. As a result, the
Warrant Amendment are considered to be a “related party
transaction” as defined under Multilateral Instrument 61-101 –
Protection of Minority Security Holders in Special Transactions
(“MI 61-101”). The Company is relying on the exemptions from the
formal valuation and minority approval requirements found in
Sections 5.5(a) and 5.7(1)(a) of MI 61-101, as the fair market
value of the Warrant Amendment, insofar as it involves the two
directors and officers, is not more than 25% of the Company’s
market capitalization.
Furthermore, the Company has granted incentive
stock options to purchase an aggregate amount of 1,250,000 common
shares at an exercise price of $0.05 per share for a period of two
(2) years from issuance to certain directors, officers and
consultants in accordance with the provisions of its stock option
plan. The grant of incentive stock options is subject to the
policies of the Canadian Securities Exchange.
About Hi-View
Hi-View is a mineral exploration company focused
on the acquisition, exploration and development of mineral
properties in Canada and the USA. The Company, through its
subsidiary holds interests in the Golden Stranger Property and the
Lawyers West, East, South projects, together with claims acquired
directly through staking, all located in the Toodoggone region of
northern BC, prospective for gold, silver, and copper. The
collective holdings cover 10,821 hectares.
Contact:Hi-View Resources
Inc.Howard Milne, CEOEmail: hdmcap@shaw.ca Telephone: (604)
377-8994Website: www.hiviewresources.com
FORWARD LOOKING STATEMENTS:
This news release includes certain statements
that may be deemed “forward-looking statements”. All statements in
this new release, other than statements of historical facts, that
address events or developments that the Company expects to occur,
are forward-looking statements. Forward-looking statements are
statements that are not historical facts and are generally, but not
always, identified by the words “expects”, “plans”, “anticipates”,
“believes”, “intends”, “estimates”, “projects”, “potential” and
similar expressions, or that events or conditions “will”, “would”,
“may”, “could” or “should” occur. Forward-looking statements in
this news release includes statements related to the proposed
Transaction and related matters. 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. Factors that could cause
the actual results to differ materially from those in
forward-looking statements include market prices, continued
availability of capital and financing, and general economic, market
or business conditions. Investors are cautioned that any such
statements are not guarantees of future performance and actual
results or developments may differ materially from those projected
in the forward-looking statements. Forward-looking statements are
based on the beliefs, estimates and opinions of the Company’s
management on the date the statements are made. Except as required
by applicable securities laws, the Company undertakes no obligation
to update these forward-looking statements in the event that
management's beliefs, estimates or opinions, or other factors,
should change.
Neither the Canadian Securities Exchange nor its
Regulation Services Provider accepts responsibility for the
adequacy or accuracy of this release.