|By Marketwired .||
|May 29, 2014 05:09 PM EDT||
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 05/29/14 -- Goldstrike Resources Ltd. (the "Company") (TSX VENTURE: GSR)(PINKSHEETS: APRAF)(FRANKFURT: KCG1) is applying to the TSX Venture Exchange for consent to extend the exercise term of certain outstanding share purchase warrants by two years.
On June 15, 2012, the Company distributed 750,000 units at the price of $0.75 per unit (each a "FT Unit"). Each unit was comprised of one flow-through common share and one non-flow-through common share, with $0.40 of the subscription price allocated to the flow-through shares and the other with $0.35 of the subscription price allocated to the non-flow-through shares. The Company also distributed 2,615,358 units at the price of $0.35 per unit (each a "Unit"). Each Unit was comprised of one common share and one-half of a share purchase warrant. Each warrant is currently exercisable to purchase one common share for $0.80 at any time prior to 4:30 p.m. on June 15, 2014 subject to an accelerated expiry if the average closing price of the common share is $1.20 or higher for 10 consecutive trading days. The Company now intends to apply to the Exchange for permission to extend the exercise term of the warrants to June 15, 2016. The Company does not intend to apply to the Exchange for permission to extend the exercise term of the finders' warrants. The Company will not be seeking a reduction of the exercise price of any warrants. The proposed amendment to the warrant terms is subject to acceptance by the TSX Venture Exchange.
ON BEHALF OF THE BOARD
"Terrence E. King"
President and Chief Executive Officer
For new sections and maps on the Summit property, please visit Goldstrike's website at GoldstrikeResources.com. For further information follow the Company's tweets at Twitter.com/GoldstrikeRes or contact Jeff Stuart of King James Capital Corporation, handling Investor Relations for the Company, by telephone at (604) 210-2150 or by email at [email protected].
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 this release.
This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions, and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. The reader is cautioned not to place undue reliance on forward-looking statements.
King James Capital Corporation