Valour Inc. (the “Company” or “Valour“) (NEO: DEFI) (GR: RMJR) (OTCQB: DEFTF), a technology company bridging the gap between traditional capital markets and decentralized finance, announces that the Company has extended the expiry dates of a total of 12,684,560 share purchase warrants (the “Warrants“), by three months to February 13, 2023 (the “Warrant Extension“). The Warrants were issued pursuant to a private placement of the Company which closed in November 2020. Each Warrant entitles the holder thereof to acquire one common share of the Company at a price of $0.25 per common share and all other terms of the Warrants, including exercise price, will remain the same.
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A total of 4,000,000 Warrants are held by an insider of the Company. The extension of the Warrants therefore constitutes a “related party transaction” within the meaning of Multilateral Instrument 61-101 Protection of Minority Shareholders in Special Transactions (“MI 61-101“). The Company is relying on the exemptions from the valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101, as the fair market value of the extension does not exceed 25% of the market capitalization of the Company, as determined in accordance with MI 61-101. The extension was unanimously approved by the Company’s independent directors. The Company does not intend to file a material change report in respect of the Warrant Extension.
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