Ginguro Exploration Inc. to Extend Term of Warrants
09.06.2014 | Marketwire
NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE U.S.TORONTO, ONTARIO -- (Marketwired - June 9, 2014) - Ginguro Exploration Inc. (TSX VENTURE:GEG) ("Ginguro") announces that it has made an application to the TSX Venture Exchange (the "TSXV") to extend the term of certain of its existing share purchase warrants.
An aggregate of (i) 2,625,000 share purchase warrants ("FT Unit Warrants") comprising, in part, flow through units of Ginguro; and (ii) 2,000,000 share purchase warrants ("Unit Warrants") comprising, in part, hard dollar units of Ginguro, were originally issued on December 21, 2012. Each FT Unit Warrant is exercisable at $0.15 until December 21, 2014, and each Unit Warrant is exercisable at $0.15 until December 21, 2014 subject to acceleration in the event that the closing price of the common shares of Ginguro exceeds $0.30 for 20 trading days (the "Acceleration Provisions"). Ginguro has made application to extend the term of the FT Unit Warrants to December 21, 2015, and to extend the term of the Unit Warrants to December 21, 2015 subject to the Acceleration Provisions. The exercise price for the warrants will remain the same.
The warrant amendments have been approved by the board of directors of Ginguro. The warrant amendments remain subject to TSXV approval.
The Company also announces that it has granted a total of 250,000 options to purchase shares of the Company, at a price of $0.15 per share for a period of 3 years, to an officer and a consultant of the Company.
About Ginguro
Ginguro Exploration Inc. is a mineral exploration company focused on the advancement of its paleo-placer gold property, located in Pardo Township, 65 km northeast of Sudbury, Ontario. To learn more about Ginguro Exploration Inc., please visit: www.ginguro.com.
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.
Forward Looking Statements
Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of Ginguro, including, but not limited to the impact of general economic conditions, industry conditions, dependence upon regulatory approvals, the availability of financing and exploration risk. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements.
Contact s
Ginguro Exploration Inc.
Richard Murphy, President and CEO
(705) 222-8800
info@ginguro.com
www.ginguro.com