This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

GeneNews To Hold Shareholder Meeting

TORONTO, Jan. 16, 2013 (GLOBE NEWSWIRE) -- GeneNews Limited (TSX:GEN) ("GeneNews" or the "Company") today announced an extension to the term of certain share purchase warrants (the "Warrants"), subject to the approval of a majority of disinterested shareholders at a special meeting (including any adjournments or postponements thereof, the "Meeting") to be held at the offices of Fasken Martineau DuMoulin LLP at 333 Bay Street, Suite 2400, Bay Adelaide Centre, Toronto, ON M5H 2T6, Canada on Friday, February 22, 2013, at 10:00 a.m. (Eastern time). The expiry date of the Warrants would be extended as follows:

  • 2,978,065 Warrants amended and restated on January 16, 2012, exercisable into 521,161 Common Shares, having an exercise price of $1.44 per Common Share and expiring February 1, 2013 (the "2012 Warrants") would be extended to February 1, 2015 effective January 31, 2013;  
  • 12,752,208 Warrants dated June 8, 2011, exercisable into 2,231,636 Common Shares, having an exercise price of $1.44 per Common Share and expiring February 1, 2013 (together with the 2012 Warrants, the "February Warrants") would be extended to February 1, 2015 effective January 31, 2013; and  
  • 4,250,903 Warrants dated November 12, 2010, exercisable into 743,908 Common Shares, having an exercise price of $1.44 per Common Share and expiring on June 1, 2013 (the "June Warrants") would be extended to June 1, 2015 effective the date of the Meeting.

All other provisions of the Warrants will remain the same. Full exercise of the Warrants would result in 3,496,705 Common Shares to be issued, representing 10.4% of the Corporation's currently issued and outstanding 33,744,883 Common Shares. Insiders of GeneNews hold an aggregate of 8,648,872 Warrants, which represent 43.3% of the 19,981,176 Warrants being amended. Of the Warrants held by insiders of GeneNews, Rory Riggs (Director and Chair of the Board of GeneNews) holds 3,813,956 Warrants and AWM Investment Company, Inc. (employer of David Sable, who is a Director of GeneNews) holds 4,834,916 Warrants.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,024.06 +183.54 1.03%
S&P 500 2,108.29 +22.78 1.09%
NASDAQ 5,005.3910 +63.9670 1.29%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs