Vancouver, B.C., May 22, 2018
Serengeti announced today an Early Warrant Exercise Incentive Program whereby holders of $0.15 warrants that were issued in Serengeti’s August 2016 unit financing (“2016 Warrants”) will be entitled to receive one new warrant (“Incentive Warrant”), upon the exercise of each 2016 Warrant they currently hold during an Early Exercise Period. Each new Incentive Warrant shall be exercisable into one additional common share of Serengeti at a price of $0.22 for a period of 18 months. The Early Exercise Period is in place for 20 days, commencing today and expiring June 12, 2018.
We would like to encourage all holders of these 2016 Warrants to consider participating in this Early Warrant Exercise Incentive Program and by doing so, participate in future optionality on Serengeti shares as we advance the Kwanika copper gold project that is funded through Pre feasibility by our partners Posco Daewoo. With the aid of these new funds, our intention is to also advance our high probability ATTY project located adjacent to the Kemess Underground and East deposits to the drill stage. Please see the documents attached for instructions regarding this process.
If not exercised during the Early Exercise Period, the 2016 warrants will remain in force until their regular expiry date of August 5, 2018.
Thank you for your continued support.
David W. Moore, M.Sc., P.Geo.
President & CEO
Letter to Warrantholders
Warrant Subscription Agreement