New Wave Reiterates Treatment of Warrants Subsequent to Consolidation
TORONTO, May 19, 2020 /CNW/ - New Wave Holdings Corp. (the "Company" or "New Wave") (CSE: SPOR) wishes to reiterate the treatment of its listed common share purchase warrants (the "Warrants"), trading under the symbol SPOR.WT on the Canadian Securities Exchange (the "CSE"). Further to its news releases dated May 8, 2020 and April 27, 2020, the Company confirms that upon completion of its consolidation of its common shares on a three (3) for one (1) basis (the "Consolidation"), the total number of listed warrants of the Company was not altered. However, the Warrants are adjusted due to the Consolidation in accordance with the terms of the indenture under which they were issued, such that three Warrants will be exercisable for one common share. Accordingly, there are at present 21,737,865 Warrants of the Company listed on the CSE, which are exchangeable for approximately 7,245,955 common shares at an adjusted exercise price of $0.54 per common share (representing the aggregate price of exercising three warrants at an exercise prce of $0.18 per Warrant).
By way of example, 30,000 Warrants can be exercised at a price of $0.18 per Warrant, into 10,000 common shares of the Company for an aggregate exercise price of $5,400. Per common share, this would be an effective exercise price of $0.54.
About New Wave Holdings Corp.
New Wave Holdings is an investment issuer that provides capital and support services to multiple emerging industries, including esports and psychadelics.
HIGHLIGHTS OF THE NEW WAVE PORTFOLIO:
SOURCE New Wave Holdings Corp.