Brief: Toughbuilt Industries And An Institutional Investor Entered Into Warrant Repurchase Agreement

Toughbuilt Industries

09/06/2022 11:17

June 9 (Reuters) - Toughbuilt Industries Inc  TBLT.O :
    * TOUGHBUILT INDUSTRIES - ON JUNE 8, CO AND AN ACCREDITED
INSTITUTIONAL INVESTOR ENTERED INTO A WARRANT REPURCHASE
AGREEMENT
    * TOUGHBUILT - PURSUANT TO AGREEMENT, INVESTOR AGREED TO
SELL TO
CO COMMON STOCK PURCHASE WARRANT ISSUED BY CO TO INVESTOR ON NOV
20, 2020, AS AMENDED
    * TOUGHBUILT INDUSTRIES - REPURCHASE WARRANT IS EXERCISABLE
FOR
11,500,001 SHARES OF COMMON STOCK OF CO FOR $0.05 PER WARRANT
SHARE UNTIL APRIL 24, 2024
    * TOUGHBUILT - IN CONSIDERATION FOR REPURCHASE WARRANT, CO
AGREED
TO PAY INVESTOR AN AGGREGATE OF $2.5 MILLION IN TWO INSTALLMENTS
    * TOUGHBUILT INDUSTRIES - AGREEMENT EXTENDS INVESTOR’S RIGHT
TO
PARTICIPATE IN FUTURE OFFERINGS UNDER PURCHASE AGREEMENT TO
UNTIL DEC 31, 2024
    * TOUGHBUILT - AGREEMENT STATES THAT IT SHALL AUTOMATICALLY
TERMINATE, BE OF NO FURTHER FORCE, EFFECT IF OFFERING IS NOT
CONSUMMATED BY JUNE 24, 2022

Source text for Eikon: [https://bit.ly/3O1SBwz]
Further company coverage:  TBLT.O 

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