Stearman Resources, Inc. (TSE:STMN) has released an update.
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Stearman Resources Inc. plans to modify the terms of 6 million outstanding warrants by extending their expiry to September 30, 2025, and adjusting the exercise price to $0.06, with special acceleration clauses. This amendment impacts warrants held by insiders, including two directors and officers, and is considered a related party transaction under specific Canadian regulations; however, the company has claimed exemptions based on the transaction’s proportion to market cap.
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