Edmonton, Alberta--(Newsfile Corp. - March 16, 2022) Cortus Metals Inc. (TSXV: CRTS) ( the " Company ", or " Cortus ") announces further to its press release dated December 2, 2021, that it has received the approval of the TSX Venture Exchange for amendments to an aggregate of 24,271,004 outstanding share purchase warrants (the " Historical Warrants "). The Historical Warrants were originally issued pursuant to private placements completed on August 26, 2020, June 14, 2021 and August 31, 2021 and a debt settlement completed June 22, 2021.
Cortus CEO Sean Mager commented, "We are pleased that the Exchange has accepted our extension of expiry dates and reduction of prices for the exercise and acceleration of more than 24 million outstanding warrants. These changes will appeal to both our historical investors and new investors, as Cortus will generate a healthy treasury of up to $6 million if all in-the-money warrants and options are exercised once the share price reaches the trigger price of 20 cents. This will ensure that Cortus can continue to offer access to windfall through our pursuit of new discoveries in Nevada."
The expiry date of all of the Historical Warrants will be extended to March 16, 2024, being the date which is two years following receipt of approval for the amendments. The exercise price of the Historical Warrants will be reduced to $0.15, with the exception of 8,500,666 Historical Warrants issued on June 14, 2021, which will be reduced to an exercise price of $0.155. All of the Historical Warrants will be subject to an accelerated expiry provision such that if the closing price of the Company's common shares is equal to or greater than $0.20 for a period of five consecutive trading days, the Company may, by notice to the warrant holder in writing or via press release, reduce the remaining exercise period applicable to the warrants to not less than 30 days from the date of such notice.
About Cortus Metals Inc.
Cortus Metals Inc. (TSXV: CRTS) (OTCQB: CRTTF) is a new Canadian mineral exploration company with a portfolio of highly prospective early-stage gold and silver projects located in the basins of Nevada and an innovative project accelerator strategy to advance them to fruition. Generally, the projects are situated near operating mines or known deposits, and on the same hosting fault structure. Cortus' team of experts uses systematic methods and proprietary data to target significant epithermal and Carlin-type mineralization beneath shallow cover. We provide investors with exceptional opportunities to capitalize on the potential to discover gold-silver deposits of >1-million-ounces in a perennially top-ranked mining jurisdiction. Our mandate is to collaborate with third parties to complete drill programs of 2,000-4,000 metres, with Cortus retaining a significant interest in the outcomes. Our projects are available for acquisition via sale, option and/or joint venture mechanisms.
On behalf of the Board of Directors
s/ "Sean Mager"
Sean Mager
, Chief Executive Officer
Email: seanm@cortusmetals.com
Telephone: +1.780.701.3215
[www.metalsgroup.com](https://www.newsfilecorp.com/redirect/gxer4fKGbY)
Cortus Metals Inc. is part of the Metals Group of Companies, managed by an award-winning team of professionals who stand for technical excellence, painstaking project selection and uncompromising corporate governance, with a proven ability to identify and capitalize on investment opportunities and deliver shareholder returns.
Forward Looking Information
This New s Release includes certain "forw ard-looking statements". All statements other than statements of historical fact, included in this release, including, w ithout limitation, future plans and objectives of the Company, are forw ard-looking statements that involve various risks and uncertainties. There can be no assurance that such statements w ill prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations are the risks detailed herein and from time to time in the filings made by the Company w ith securities regulators including the follow ing: (i) the Company has no commercial operations and has no history of profit; (ii) investment in the common shares of the Company is highly speculative given the unknow n nature of the Company's business and its present stage of development; (iii) there is no assurance that the Company w ill find a profitable undertaking or that it can successfully conclude a purchase of such an undertaking at all or on terms w hich are commercially acceptable; (iv) the directors and officers of the Company w ill only devote a portion of their time to the business and affairs of the Company and some of them are or w ill be engaged in other projects or businesses such that conflicts of interest may arise from time to time; and (v) there can be no assurance that an active and liquid market for the Company's common shares w ill develop and an investor may find it difficult to resell its common shares. This list is not exhaustive of the factors that may affect any of the Company's forw ard-looking statements. These and other factors should be considered carefully and readers should not place undue reliance on the Company's forw ard-looking statements. Although the Company believes that the assumptions and factors used in preparing the forw ard-looking information in this new s release are reasonable, undue reliance should not be placed on such information, w hich only applies as of the date of this new s release, and no assurance can be given that such events w ill occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forw ard-looking information, w hether as a result of new information, future events or otherw ise, other than as required by law .
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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