The TSX Venture Exchange has consented to the extension of the term and reduction in the exercise price of the following warrants.
Original expiry date: Oct. 22, 2014
New expiry date: Oct. 22, 2017
Forced exercise provision: If the closing price for the company's shares is 13 cents or greater for a period of 10 consecutive trading days, then the warrant holders will have 30 days to exercise their warrants; otherwise the warrants will expire on the 31st day.
Original exercise price: 14 cents
New exercise price: 10 cents
These warrants were issued pursuant to a private placement of 4,169,167 shares with 4,169,167 share purchase warrants attached, which was accepted for filing by the exchange effective on Oct. 30, 2012.