Altair Gold Inc. Proposes Amendment to Warrant Terms
05.03.2013 | The Newswire
Vancouver, BC – March 5, 2013 - Altair Gold Inc. (TSXV: AVX) (the “Company”) announces that it intends to make application to the TSX Venture Exchange to amend the term of certain outstanding share purchase warrants issued pursuant to a private placement that closed in two tranches, on March 20, 2012 and March 30, 2012. As disclosed in the following table, the amendment is limited to an extension of the term of the warrants without changes to the exercise price:
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|Warrant |No. of |Original|Proposed|Original |Proposed |
|Description |Warrants |Exercise|Exercise|Expiry Date|Expiry Date|
| | |Price |Price |(1) |(1) |
|----------------------------------------------------------------|
|Issued as |1,612,500|$0.33 |$0.33 |March 20/13|March 20/14|
|part of a | | | | | |
|unit private| | | | | |
|placement | | | | | |
|– first | | | | | |
|closing | | | | | |
|----------------------------------------------------------------|
|Issued as |4,395,571|$0.33 |$0.33 |March 30/13|March 30/14|
|part of a | | | | | |
|unit private| | | | | |
|placement | | | | | |
|– second | | | | | |
|closing | | | | | |
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Note:
(1)All of the above-described warrants are subject to the right of the Company to accelerate the expiry of the warrants, if, during the term of the warrants, the Company’s common shares close at a price of $0.45 per share or greater for more than 20 consecutive trading days (the “Original Acceleration Terms”). These Original Acceleration Terms will also apply to the amended warrants.
The proposed amendment of the term of the warrants as set forth above is subject to acceptance for filing by the TSX Venture Exchange.
For further information please contact Justin Schroenn at 604.780.1371 or e-mail info@altairgold.com. (www.altairgold.com)
ON BEHALF OF THE BOARD
Fayyaz Alimohamed, President & CEO
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.