Abbotsford, BC February 14, 2014 - Gatekeeper Systems Inc. (The "Company" or "Gatekeeper") (TSX.V: GSI) is pleased to announce that, further to the Company's news release dated January 22, 2014, the TSX Venture Exchange (the "TSX.V") has approved its application to extend the expiry date of 4,220,000 share purchase warrants (the "Warrants") in accordance with TSX.V Policy 4.1.
The Warrants were issued on February 19, 2013 pursuant to a private placement of 8,440,000 units (the "Units") with each Unit consisting of one common share and one-half of one common share purchase Warrant. Each full Warrant is exercisable at a price of $0.50 per share, and was originally set to expire on February 19, 2014. Further to the Company's extension application, the TSX.V has agreed to permit the term of the Warrants to be extended by 12 months. The new expiry date of the Warrants will be February 19, 2015.
In accordance with the original terms of the Warrants, in the event the trading price of the Company's common shares closes at or above $0.75 per share for 10 consecutive trading days, the expiry date of the Warrants will be accelerated to the date that is 30 days from the date of the 10th consecutive trading day that the trading price of the Company's common shares closes at or above $0.75. Pursuant to the policies of the TSX.V, warrants issued to brokers, agents or finders may not be amended.
About Gatekeeper Systems Inc.
Founded in 1997, Gatekeeper Systems Inc. has provided total mobile video security solutions to over 3,500 customers and has installations in every state and province in North America. Customers include school districts, public transit, law enforcement and military.
For more information visit: www.gatekeeper-systems.com.
On behalf of the Board,
President & CEO
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward-Looking Statements: This release may contain forward-looking statements. Actual results could differ materially from those described in this news release as a result of various factors, including, but not limited to the timing of and ability to obtain regulatory approvals. The Company cautions that these and similar statements involve risk and uncertainties and are qualified by important factors, including the risk that the Company will not obtain required approval, that could cause actual results to differ materially from those in the forward looking statements. Forward-looking statements are made in the context of information available as of the date stated. The Company undertakes no obligations to update or revise such statements to reflect new circumstances or unanticipated events as they occur, unless required by applicable law