IDR 8-K
Idaho Strategic Resources, Inc. (IDR)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
Current Report
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Item 8.01 Other Events.
On October 12, 2023, Idaho Strategic Resources, Inc. (the “Company”) amended and restated warrants issued in private placements completed in October and November of 2021. The amended and restated warrants reflected the change of the Company’s name to Idaho Strategic Resources, Inc., adjusted the amount of the warrants and exercise price to reflect the 14-for-1 reverse stock split, and extended the exercise period of the warrants for an additional one (1) year.
The October 2021 private placement issued warrants to purchase a total of 3,300,002 shares of common stock at an exercise price of $0.40 per share, pre-reverse split. After adjusting for the 14-for-1 reverse stock split, the warrants issued in the October 2021 private placement gave the holders the right to purchase a total of 235,714 shares of common stock at an exercise price of $5.60 per share, post-reverse split. The expiration date of the warrants was extended from Sunday, October 15, 2023 at 5:00 PM P.S.T. to Tuesday, October 15, 2024 at 5:00 PM P.S.T. There were no other changes in the terms of the warrants.
The November 2021 private placement issued warrants to purchase a total of 1,500,000 shares of common stock at an exercise price of $0.50 per share, pre-reverse split. After adjusting for the 14-for-1 reverse stock split, the warrants issued in the November 2021 private placement gave the holders the right to purchase a total of 53,572 shares of common stock at an exercise price of $7.00 per share, post-reverse split. The expiration date of the warrants was extended from Sunday, November 12, 2024 at 5:00 PM P.S.T. to Tuesday, November 12, 2024 at 5:00 PM P.S.T. There were no other changes in the terms of the warrants.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
| IDAHO STRATEGIC RESOURCES, INC.
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| By: | /s/ John Swallow |
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| John Swallow |
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| Its: | President & CEO |
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| Date: | October 13, 2023 |
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