DevvStream Holdings Inc. Announces Extension of Warrant Exercise Incentive Program
Vancouver, BC, July 14, 2023– DevvStream Holdings Inc. (the “Company” or “DevvStream”) (NEO: DESG) (OTCQB: DSTRF) (FSE: CQ0), a leading carbon credit generation firm specializing in technology solutions, announces that further to its news release dated May 1, 2023, it is extending the term of its warrant exercise incentive program (the “Incentive Program”).
The Incentive Program was announced on May 1, 2023 and is intended to encourage the early exercise of up to 6,957,348 outstanding subordinate voting share purchase warrants (the “Eligible Warrants”) of the Company. Previously, the Company offered holders of Eligible Warrants the right to receive one new subordinate voting share purchase warrant (a “New Warrant”) for each two Eligible Warrants exercised between May 1, 2023 and June 30, 2023 (the “Term”). Each New Warrant entitled the holder to acquire one additional subordinate voting share (a “Share”) of the Company at a price of $2.00 per Share until June 30, 2025. As of June 30, 2023, the initial expiry of the Term, 85,000 New Warrants had been issued pursuant to the Incentive Program.
The Company is now extending the Term so that holders of Eligible Warrants will have until August 31, 2023 to participate in the Incentive Program. Each New Warrant now issued for every two Eligible Warrants exercised before August 31, 2023 will entitle the holder to acquire one additional Share of the Company at a price of $2.00 per Share until August 31, 2025.
All other terms of the Incentive Program, including instructions on how to participate in the Incentive Program, remain the same as first disclosed in the Company’s May 1, 2023 news release.
DevvStream is a technology-based ESG company that advances the development and monetization of environmental assets, with an initial focus on carbon markets. DevvStream works with governments and corporations worldwide to achieve their sustainability goals through the implementation of curated green technology projects that generate renewable energy, improve energy efficiencies, eliminate or reduce emissions, and sequester carbon directly from the air. DevvStream also helps these organizations meet their net zero goals by providing them access to high-quality carbon credits.
For more information, please visit www.devvstream.com.
On Behalf of the Board of Directors,
Chief Executive Officer
Tel: +1 647 689 6041
Cautionary Statement Regarding "Forward-Looking" Information
Some of the statements contained in this news release are forward-looking statements and information within the meaning of applicable securities laws. Forward-looking statements and information can be identified by the use of words such as “expects”, “intends”, “is expected”, “potential”, “suggests” or variations of such words or phrases, or statements that certain actions, events or results “may”, “could”, “should”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking statements and information are not historical facts and are subject to a number of risks and uncertainties beyond the Company’s control. Actual results and developments are likely to differ, and may differ materially, from those expressed or implied by the forward-looking statements contained in this news release. Accordingly, readers should not place undue reliance on forward-looking statements. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking statements, except as may be required by law.
Neither NEO Exchange nor its Regulations Services Provider (as that term is defined in the policies of the NEO Exchange) accepts responsibility for the adequacy or accuracy of this release.