Ottawa, Ontario. Melkior Resources Inc. (“Melkior“) 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 Price | Issue Date | Expiry date prior to revision | Revised Expiry Date |
1,300,000 | 0.25 | 0.10 | June 28, 2012 | June 28, 2013 | June 28, 2014 |
712,500 | 0.25 | 0.10 | July 9, 2012 | July 9, 2013 | July 9, 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 250,000 warrants held by insiders to allow the extension and repricing 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.
For further information:
Jens E. Hansen
President, Melkior Resources Inc.
Tel: (613) 721–2919
Fax: (613) 680-1091
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.