Waymar to Extend Term of Warrants
17.06.2013 | Marketwire
VANCOUVER, 06/17/13 - Waymar Resources Ltd. (TSX VENTURE: WYM) (the "Company" or "Waymar") announces that it will make an application to the TSX Venture Exchange (the "TSXV") to extend the term of each of its Series 2010-I warrants.An aggregate of 5,000,000 Series 2010-I warrants were originally issued on June 29, 2010 and were exercisable at $0.55 per share until 5:00 p.m. (Vancouver time) on June 29, 2012, provided that if the closing price of the common shares of Waymar on the TSXV is equal to or higher than $1.10 per share for a period of 20 consecutive trading days, Waymar may accelerate the expiry date of the Series 2010-I warrants to the 30th day after the date on which notice of the accelerated expiry date is given to the holders of such warrants by Waymar (the "Acceleration Provisions"). On June 20, 2012, the TSXV had approved the Company's prior application to extend the term of its Series 2010-I warrants, such that the 4,581,250 outstanding Series 2010-I warrants are exercisable at $0.55 per share until 5:00 p.m. (Vancouver time) on June 29, 2013, subject to the Acceleration Provisions.
The Company is applying to the TSXV to extend the expiry date of the Series 2010-I warrants by a further one year to June 29, 2014, subject to the Acceleration Provisions. The exercise price for Series 2010-I warrants will remain the same.
The warrant amendments have been approved by the board of directors of the Company. The warrant amendments remain subject to TSXV approval.
About Waymar Resources Ltd.
Waymar Resources Ltd. is a Canadian mineral exploration company with an option to acquire 100% interest in the Anza project located in the west of the Antioquia Department in the Republic of Colombia. Upon exercise of the option, the optionors will retain a 2% net smelter return royalty on that portion of the Anza property governed by the Option Agreement, one-half of which may be purchased by Waymar for a cash payment of US$1,000,000. Waymar also has 100% ownership of certain properties surrounding Anza that cover the district's mineral potential and is continually seeking opportunities to acquire exploration properties. Colombia is a significant producer of gold, nickel, emeralds, petroleum and natural gas as well as a leading producer of coal in Latin America.
WAYMAR RESOURCES LTD.
Pablo Marcet
President & CEO
This press release may contain "forward looking statements" and "forward-looking information" within the meaning of applicable Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects", "estimates", "intends", "anticipates" or "believes" or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might", or "will be taken", "occur", or "be achieved". Forward-looking information is based on the reasonable assumptions, estimates, intentions, analysis and opinions of Waymar made at the date that such statements are made. Forward looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Waymar to be materially different from those expressed or implied by such forward-looking information, including the risk factors relating to receipt of regulatory approval of the extension of the term of the 2010-I warrants, and as otherwise disclosed elsewhere in Waymar's public disclosure. Accordingly, readers should not place undue reliance on forward-looking information. The forward-looking information contained herein is presented for the purposes of assisting investors in understanding Waymar's plans and objectives and may not be appropriate for other purposes. Waymar does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
Shares Outstanding: 47,245,170
NEITHER THE 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.
Contacts:
Waymar Resources Ltd.
Investor Relations
1-778-373-0100
info@waymarresources.com