Fieldex Exploration Announces Extension of Warrant Term and Amendment to its Stock Option Plan
07.09.2011 | CNW
ROUYN-NORANDA, Qc, Sept. 7, 2011 - Fieldex Exploration Inc. (TSXV: FLX) (Frankfurt: F7E) announces that it has applied to the TSX Venture Exchange for a one-year extension of the term of 5,555,555 common share purchase warrants that were issued by Fieldex as part of a private placement that closed in October 2009. Each warrant currently entitles its holder to purchase one additional common share of Fieldex at an exercise price of $0.23 until October 29, 2011.Subject to the approval of the TSX Venture Exchange, the term of the warrants will be extended to October 29, 2012, for a total term of three years. Fieldex issued a total of 5,555,555 warrants in the October 2009 private placement, none of which have been exercised.
Fieldex also announces that it has amended its Stock Option Plan so as to extend the maximum period during which an option is exercisable to ten years from the date the option is granted, as well as certain housekeeping amendments to ensure that the plan is consistent with TSX Venture Exchange Policy 4.4 and the withholding and remittance requirements set out in the Income Tax Act (Canada). The foregoing amendments are subject to the final approval of the TSX Venture Exchange.
About Fieldex:
Fieldex is a mineral resource company actively exploring in Quebec for base and strategic group metal deposits located throughout Canada, representing over 600 km². Quadra FNX Mining Company owns 6,500,000 shares of Fieldex Exploration Inc. and Fieldex has 60,172,018 shares outstanding.
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 the release.
For further information:
Fieldex Exploration Inc.
Martin Dallaire, eng
President & Chief Executive Officer
Tel.: (819) 762-0609
Fax: (819) 762-0097
mdallaire@fieldexexploration.com
www.fieldexexploration.com