Melkior Announces Two Years Extension of Warrants
14.08.2013 | Marketwired
OTTAWA, ONTARIO--(Marketwired - Aug 14, 2013) - Melkior Resources Inc. ("Melkior") (TSX VENTURE:MKR) is pleased to announce that, subject to regulatory approval, it has agreed to extend and reprice for one year the term of the following previously issued share purchase warrants:
| Number of warrants | Exercise price | Revised Exercise Prise | Issue Date | Expiry date prior to revision | Revised Expiry Date |
| 602,000 | 0.30 | 0.10 | June 29, 2012 | December 28, 2013 | December 28, 2014 |
In accordance with the policies of the TSX Venture Exchange, if the Company's common shares trade at a closing price of $0.1333 or higher for ten consecutive trading days, the exercise period of the Warrants will be shortened to a period of 30 days commencing one week after the final such trading day. According to policies of the TSX Venture Exchange, the Company has voluntarily cancelled 18,000 warrants held by insiders to allow the extension and re pricing of the above warrants.
Melkior has significantly advanced its exploration projects during the past year thanks to the investors in 2012 and is of the opinion that an extension of these warrants is justified.
Neither 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.