Montreal, Quebec, November 5, 2021 – (CSE: EMER) Emergia Inc. (the “Corporation or “Emergia”) announces extension to the expiry date of a total of 13,120,860 outstanding common share purchase warrants (the “Warrants”) originally issued as part of a private placement with the first tranche closed on May 13, 2020 and the final tranche closed on July 19, 2021. The Warrants entitle the holders to purchase one common share in the capital of the Corporation at a price of $1.25 per common share and the expiry dates were between December 31, 2021 and June 30, 2023. Subject to the approval of the Canadian Securities Exchange, expiry of the Warrants will be extended to October 31, 2023. All other terms of the Warrants will remain unchanged.
Warrant holders are advised that replacement warrant certificates will not be issued and that the original warrant certificate must be presented to the Corporation in order to effect the exercise of such Warrants.
“This extension of the Warrants is made in order to allow the alignment of the maturity date of the Warrants with those issued in the course of the private placement currently underway, therefore allowing all the investors who invested in the Corporation’s capital in the last 18 months or so to benefit of the same rights” said Henri Petit, CEO of Emergia.
Insiders of the Corporation hold an aggregate of 4,813,181 Warrants. The insider Warrants extension is exempt from the valuation and minority shareholder approval requirements of Multilateral Instrument 61-101 (“MI 61-101”) by virtue of the exemptions contain in section 5.5(a) and 5.7(1) (a) of MI 61-101 in that the fair market value of the consideration for the securities of the Corporation issued to the insiders does not exceed 25% of its market capitalization.
About emergia Inc.
EMERGIA operates mainly in Canada in the development, acquisition and management of multi-purpose real estate, including retail, multi-residential, industrial, and office buildings as well as land for future development. The Corporation’s investment platform is based on an integrated, agile and efficient develop-to-own strategy that enables EMERGIA to benefit from development profits and the value-add while securing stable long-term returns.
For more information, please visit www.emergia.com and www.sedar.com. EMER.CN
Source: Emergia Inc.
For more Information, please contact:
Henri Petit
CEO
T: 1.888.520.1414 (Ext. 231)
E: hpetit@emergia.com
Forward-Looking Information
This press release contains forward-looking information within the meaning of applicable securities laws. All information and statements other than statements of historical facts contained in this press release are forward-looking information. Such statements and information may be identified by looking for words such as “about”, “approximately”, “may”, “believes”, “expects”, “will”, “intend”, “should”, “plan”, “predict”, “potential”, “project”, “anticipate”, “estimate”, “continue” or similar words or the negative thereof or other comparable terminology. Such forward-looking information includes, without limitation, statements with respect to the effect of the COVID-19 pandemic on the Corporation’s financial condition, the anticipated closing of the Private Placement, business strategy and plans, and objectives of or involving the Corporation. The forward-looking information is based on certain key expectations and assumptions made by the Corporation, including expectations and assumptions concerning satisfaction of all conditions of closing, absence of exercise of any termination right and the timing and receipt of regulatory approval with respect to the Private Placement and the issuance of the private placement shares and the availability of capital resources. Although the Corporation believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information since no assurance can be given that they will prove to be correct. Actual results could differ materially from those currently anticipated due to a number of factors and risks. These include, but are not limited to, the effect of the COVID-19 pandemic on the Corporation’s financial condition, the real estate industry, and society as a whole.the market for the common shares, volatility of market price for common shares and other risks generally attributable to the business of the Corporation. For additional information with respect to risks and uncertainties, refer to the annual MD&A of the Corporation for the year ended December 31, 2020 filed on SEDAR at www. sedar.com.
THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS PRESS RELEASE REPRESENTS THE EXPECTATIONS OF THE CORPORATION AS OF THE DATE OF THIS PRESS RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH DATE. READERS SHOULD NOT PLACE UNDUE IMPORTANCE ON FORWARD-LOOKING INFORMATION AND SHOULD NOT RELY UPON THIS INFORMATION AS OF ANY OTHER DATE. WHILE THE CORPORATION MAY ELECT TO, IT DOES NOT UNDERTAKE TO UPDATE THIS INFORMATION AT ANY PARTICULAR TIME EXCEPT AS REQUIRED IN ACCORDANCE WITH APPLICABLE SECURITIES LEGISLATION.