Victoria, British Columbia--(Newsfile Corp. - July 14, 2025) - ALUULA Composites Inc. (TSXV: AUUA) ("ALUULA" or the "Company") announces that, further to its news release dated June 17, 2025, the TSX Venture Exchange (the "TSXV") has approved the extension of the term and repricing of 24,489,953 outstanding share purchase warrants (the "Warrants") that were granted pursuant to a private placement of units on July 12, 2023.
Following the extension and repricing (and taking into account the share consolidation of the Company completed on March 12, 2025), every 20 Warrants will now entitle the holder to acquire one common share of the Company at an exercise price of $0.81 per share until July 12, 2026.
In accordance with the policies of the TSXV, the Warrants will be subject to an accelerated expiry clause. Under the acceleration provision, if the closing price of the Company's common shares is $0.97 or higher for 10 consecutive trading days, the exercise period of the Warrants will be reduced to 30 calendar days. The 30-day accelerated expiry period will begin seven calendar days after the end of the premium trading period. Any Warrants not exercised before the end of this 30-day period will expire and be void.
All other terms of the Warrants will remain unchanged.
In its news release dated June 17, 2025 the Company indicated that 1,224,498 Warrants were being amended. This assumed a 20 for 1 consolidation of the 24,489,953 Warrants into 1,224,498 Warrants. Pursuant to a supplemental warrant indenture dated March 12, 2025, the number of outstanding Warrants was not consolidated, but as a result of the Company's 20 for 1 consolidation, 20 Warrants were required to acquire one share of the Company. That remains the case and there continue to be 24,489,953 Warrants outstanding.
About ALUULA Composites Inc.
ALUULA is an ultra-light, high performance and recycle-ready composite materials brand that enhances the performance of outdoor gear. Proudly owned and manufactured on the Canadian west coast, ALUULA's innovation is driven by a deep understanding that equipment does not need to sacrifice performance for sustainability. ALUULA's materials are known for their unique construction capabilities and their ability to make products lighter, stronger, and more sustainable.
aluula.com | (TSXV: AUUA)
On behalf of the Board of Directors,
Sage Berryman
Chief Executive Officer
1-888-724-2470
For ALUULA investor inquiries, please contact:
1-888-724-2470, ext. 4
IR@aluula.com
For ALUULA media relations, please contact:
media@aluula.com
ALUULA's Brand Partners
The term "brand partners" does not refer to formal partnerships with our customers. The term refers to marketing relationships with our customers who use ALUULA's technology as a brand ingredient in their products.
TSX Venture Exchange
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
Certain information in this news release includes statements about management's view of future events, expectations, plans, and prospects that constitute forward-looking statements. These statements are based on assumptions subject to significant risks and uncertainties. Although the Company believes that the expectations reflected in forward-looking statements are reasonable, it can give no assurances that the expectations of any forward-looking statement will prove to be correct. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward-looking statements or otherwise.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/258663
SOURCE: ALUULA Composites Inc.
