Waymar Resources Ltd to Extend Term of Warrants
14.06.2012 | Marketwire
VANCOUVER, June 14, 2012 - 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 and Series 2010-II warrants.An aggregate of 5,000,000 Series 2010-I warrants were originally issued on June 29, 2010 and are 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"). An aggregate of 500,000 Series 2010-II warrants were originally issued on June 29, 2010 and are exercisable at $0.75 per share until 5:00 p.m. (Vancouver time) on June 29, 2012.
The Company is applying to the TSXV (i) to extend the expiry date of the Series 2010-I warrants to June 29, 2013, subject to the Acceleration Provisions; and (ii) to extend the expiry date of the Series 2010-II warrants to June 29, 2013. The exercise price for both series of 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 Anzá 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 Anzá 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 Anzá 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
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 the Company, including, but not limited to the availability of applicable regulatory approvals. 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.
Shares Outstanding: 45,945,170
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.
Contact Information
Waymar Resources Ltd.
Investor Relations
1-778-373-0100
info@waymarresources.com
www.waymarresources.com