Stuhini Exploration Ltd. Proposes to Extend Warrants, Announces Que Option Termination
Stuhini Exploration Ltd. ("Stuhini" or the "Company") (TSXV: STU) and (OTCQB: STXPF) announces its intention to extend the expiry date of previously issued common share purchase warrants (the "Warrants") to purchase up to 3,000,000 common shares at an exercise price of $0.50 per share. The Company also announces that it has chosen to terminate the amended and restated Que Property ("Property") Option Agreement ("Agreement" or "Option Agreement") with the Property vendors. Proposed Extension of Warrant Expiry Date
The Warrants were issued in connection with a non-brokered private placement of units (the "Units") with each Unit comprised of one common share and one-half of one common share purchase Warrant. The offering closed on March 17, 2023 with 3,000,000 Warrants scheduled to expire on March 17, 2025. If accepted by the TSX Venture Exchange, the Company will extend the expiry date of the Warrants to March 17, 2027. All other terms and conditions of the Warrants will remain unchanged. The extension of the expiry date of the Warrants is subject to the acceptance of the TSX Venture Exchange.
Que Project Option Termination
Due to market conditions and the Company's recent focus on Nevada, Stuhini has chosen to terminate the Option Agreement. The Company would like to thank the project vendors for the opportunity and for all their efforts, and we look forward to working with them on other projects.
About Stuhini Exploration Ltd.
Stuhini is a mineral exploration company focused on exploration and development of precious and base metals properties in western Canada and the southwest United States. The Company's portfolio of exploration properties includes: the flagship Ruby Creek Property, 14 km east of Atlin, BC; the South Thompson Nickel Project, 35 km northwest of Grand Rapids, Manitoba; the Big Ledge Property, 57 km south of Revelstoke, BC; the Red Hills Project in northeast Nevada; the Jersey Valley Project in northwest Nevada; and the Lindsay Project in southeast Arizona.
Neither 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.
SOURCE Stuhini Exploration Ltd.
For further information please contact:
David O'Brien, President & Chief Executive Officer Telephone: (604) 835-4019, Email: dobrien@stuhini.com
