HTC Purenergy amends conditions for its common stock purchase warrants, stock rises
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- Category: Finance
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25 May 2009
- Published on Monday, 25 May 2009 08:33
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Logo of HTC Purenergy Inc. Image courtesy of HTCPurenergy Inc.
Canadian carbon capture and storage company HTC Purenergy announced on May 22 that it has amended the terms of common purchase warrants issued October 12, 2007.
HTC Purenergy said that it will delete the acceleration event clause for the warrants to be purchased at CA$3 per common share, which is set to expire on October 12, 2010. The deleted acceleration clause stated that if public price of HTC’s common shares reached CA$5 or more for 20 consecutive trading days, then the exercise period for the warrants would be accelerated before the October 12, 2010 expiry.
The amendments have been approved by all warrant holders and the board of directors of HTC Purenergy.
HTC Purenergy specializes in carbon dioxide capture and storage technologies. HTC Purenergy is publically traded on the TSX Venture Exchange as HTC. The stock was up 18.48% on May 22, closing at CA$2.5.
- Mike R. Lopez
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