LONDON, ONTARIO--(Marketwired - Sept. 11, 2013) - Critical Outcome Technologies Inc. (COTI) (TSX VENTURE:COT) announced today that it has received conditional consent from the TSX Venture Exchange (TSXV) to extend the expiry date of 11,250,000 common share purchase warrants (Warrants) issued as part of three tranches of a non‐brokered private placement on March 23, April 9 and April 26, 2012 respectively. Each Warrant entitled its holder to purchase one common share of the Company at an exercise price of $0.30 per share for a period of 18 months from the date of issue.
The expiry dates have been amended as follows:
|Warrant Issue Date||New Expiry Date|
|March 23, 2012||5:00 pm EDT on April 23, 2015|
|April 9, 2012||5:00 pm EDT on May 9, 2015|
|April 26, 2012||5:00 pm EDT on May 26, 2015|
The New Expiry Dates of the Warrants will be reduced to a period of 21 days if, for any ten consecutive trading days during the unexpired term of the Warrant (the "Premium Trading Days"), the closing price of the Common Shares on the TSXV equals or exceeds $0.37. If this occurs, the reduced exercise period of 21 days will begin seven calendar days after the tenth Premium Trading Day.
The remaining terms and conditions of the Warrants remain unchanged. The Company will deliver a Notice of Amendment reflecting the amended expiry date to the registered holders of the Warrants.
About Critical Outcome Technologies Inc. (COTI)
COTI is a leading‐edge technology company specializing in accelerating the discovery and development of small molecules - dramatically reducing the time and cost to bring new drugs to market. COTI'S proprietary artificial intelligence system, CHEMSAS®, utilizes a series of predictive computer models to identify compounds with a high probability of being successfully developed from disease specific drug discovery through chemical optimization and preclinical testing. These compounds are targeted for a variety of diseases, particularly those for which current treatments are either lacking or ineffective.
For more information, visit www.criticaloutcome.com.
Follow @CriticalOutcome on Twitter at http://twitter.com/CriticalOutcome.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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Dr. Wayne Danter
President & CEO