On January 11, 2021 iCo Therapeutics Inc. (TSXV: ICO) (OTCQB: ICOTF) ("iCo" or the "Company"), reported that they are submitting an application to the TSX Venture Exchange to amend the exercise price of 66,200,000 previously granted common share purchase warrants (the "Warrants") issued pursuant to a private placement of 25,000,000 units that was completed over several tranches from January 31, 2019 to March 4, 2019 (the "Spring 2019 Private Placement") and pursuant to a private placement of 41,200,000 units that closed on August 16, 2019 (the "Summer 2019 Private Placement") (Press release, iCo Therapeutics, JAN 11, 2021, View Source [SID1234576167]).

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Subject to the TSX Venture Exchange approval, the Company is amending the exercise price of the Warrants from $0.075 to $0.065 per Warrant. The Warrants issued under the Spring 2019 Private Placement are exercisable until dates ranging from January 31, 2022 to March 4, 2022. The Warrants issued under the Summer 2019 Private Placement are exercisable until August 16, 2022. To date, 3,190,000 of the Warrants have been exercised.

"iCo has been pursuing a number of strategic initiatives throughout 2020. It is our hope that one or more of these will come to fruition in early 2021. By reducing the strike price of the warrants we believe more warrants might be exercised and thereby allow the Company to capitalize on these opportunities," noted William Jarosz, the Chief Executive Officer of iCo.