VANCOUVER, BC, Dec. 21, 2021 /CNW/ - good natured Products Inc. (the "Company" or "good natured®") (TSXV: GDNP) today announced that it has elected to exercise its right under the terms of the warrant indenture dated August 31, 2020 (the "Warrant Indenture") between the Company and TSX Trust Company (the "Warrant Agent") to accelerate the expiry date of certain warrants to purchase common shares of the Company ("Common Shares") issued on August 31, 2020 and September 30, 2020 (the "Warrants"). The Warrants were issued to investors in the Company's private placement financings of units completed on such dates as announced by the Company in its press releases of September 1, 2020 and October 1, 2020.
The expiry date of the Warrants has been accelerated to 5:00 p.m. (Eastern Standard Time) on January 28, 2022. Any Warrants remaining unexercised after 5:00 p.m. (Eastern Standard Time) on January 28, 2022, will expire and will thereafter be of no force or effect.
Pursuant to the Warrant Indenture, the Company has the right to accelerate the expiry date of the Warrants to a date that is 30 days plus five business days following delivery of an Acceleration Notice (as described in the Warrant Indenture) to the Warrant Agent, if the Company's common shares have traded on the TSX-V on 20 consecutive trading days at greater than a volume-weighted average trading price of $0.32. The Company calculates that, on the 20 trading days between November 19, 2021, and December 16, 2021 inclusive, the volume-weighted average trading price of the Common Shares on the TSX-V was $0.86.
As of December 16, 2021, a total of 2,694,575 Warrants remained outstanding. Each Warrant has an exercise price of $0.21. If all outstanding Warrants are exercised, proceeds to the Company will total $610,087; however, there can be no assurance that any of the Warrants will be exercised.
About good natured Products Inc.
good natured® is passionately pursuing its goal of becoming North America's leading earth-friendly product company by offering the broadest assortment of eco-friendly options made from plants instead of petroleum. We're all about making it easy and affordable for business owners and consumers to switch to better everyday products® made from renewable materials and free from chemicals of concern.
Part of the sustainable consumer goods market, good natured® offers over 400 products and services through wholesale and retail channels, including our own e-commerce stores. From plant-based home organization products to compostable food containers, bioplastic industrial supplies and medical packaging, we're focused on delivering a great customer experience and to make more plant-based products readily accessible to more people as the path to deliver meaningful environmental and social impact.
For more information: goodnaturedproducts.com
On behalf of the Company:
Paul Antoniadis – Executive Chair & CEO
1-877-286-0617 ext. 113
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibilities for the adequacy or accuracy of this release.