|By Marketwired .||
|December 4, 2013 04:17 PM EST||
VAL D'OR, QUEBEC -- (Marketwired) -- 12/04/13 -- Active Growth Capital Inc. (TSX VENTURE: ACK) ("ACK" or the "Corporation") is pleased to announces that, further to its news release of September 10, 2013, it has received acceptance for filing by the TSX Venture Exchange ("TSXV") to extend the expiry and to reduce the exercise price of a total of 1,800,000 outstanding non-transferable share purchase warrants (the "Warrants") which were issued on December 13, 2012 in connection with a private placement. The original exercise price was $0.50 per share and the amended exercise price is $0.15 per share. The original expiry was at 4:00 PM (Montreal time) on December 13, 2013 and the amended expiry is at 4:00 PM on December 13, 2015.
Pursuant to the policies of the TSX Venture Exchange, acceleration provisions of the Warrants were added to provide that the exercise period of the Warrants will be reduced to 30 days if, for any 10 consecutive trading days (the "Premium Trading Days") during the unexpired term of the Warrants, the closing price of the Corporation's common shares on the TSXV is $0.20 or greater. The 30 day period will begin 7 calendar days after the tenth Premium Trading Day. The Corporation will give holders of outstanding warrants prompt written notice of the commencement of the accelerated exercise period.
The foregoing amendments to the Warrants are effective as of 4:00 PM (Montreal time) on December 5, 2013.
Since the beginning of ACK's re-organization, the Corporation has cut all costs of operations to a minimum, consolidated its share capital, made change to the Board of Directors and has been constantly seeking quality exploration projects with the ultimate goal of increasing shareholders value.
"We have had discussions and reviewed several projects in the last months but the goal is to find a project, or multiple projects, which will allow ACK to distinguish itself in this challenging period for the mining exploration industry. We believe in taking all the time necessary in order to achieve this and are making the sacrifices to have the benefit of this time," commented Marc Labrecque, President and CEO.
About Active Growth Capital
Active Growth is a TSX listed junior mineral exploration issuer whose long-term objective is to build a diversified company focused on the acquisition, exploration and development of mineral properties. Additional information about the Corporation is available on SEDAR at www.sedar.com.
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 news release.
Active Growth Capital Inc.
President and CEO