A mineral resource company creating shareholder value through exploration & discovery
Message: Extends Exercise Term of Warrants
| January 30, 2009 |
| Serengeti Extends Exercise Term of Warrants |
| VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 30, 2009) - Serengeti Resources Inc. (TSX VENTURE:SIR) advises that, subject to regulatory approval, it has agreed to extend the exercise term of a total of 1,559,000 share purchase warrants which were issued in its private placement of Flow Through Shares and Non-Flow Through Units which closed February 16, 2007. In accordance with new TSX-V Policies allowing for the extension of the exercise terms for previously issued share purchase warrants, the Company intends to extend the exercise term of the above warrants for an additional one year, from an expiry date of February 13, 2009 to an expiry date of 4:30pm PST on February 13, 2010 (the "Extended Expiry Date"). The exercise price of these warrants will remain at $1.00 per share. If, at any time prior to the Extended Expiry Date of the 1,559,000 warrants, the weighted average closing price of the Company's shares is $1.25 or greater for a period of 10 consecutive trading days ("Premium Trading Days"), the Company will impose a provision that the warrant holders will be given 30 days after the tenth Premium Trading Day to exercise their warrants, otherwise the warrants will expire on the 31st day. About Serengeti Serengeti is a mineral exploration company managed by an experienced team of professionals with a solid track record of exploration success. The Company is focused on the advancement of its Kwanika copper-gold project and on the discovery of gold, copper and molybdenum deposits on its extensive portfolio of properties in the highly prospective Quesnel Trough of British Columbia, including drilling in Q1 of 2009 on the Company's highly attractive Mil gold property. Additional information about Serengeti's projects can be found on the Company's website at www.serengetiresources.com. Serengeti is well funded to advance its projects with a working capital position of approximately $9.2 million. |
1 Recommendations
Loading...
Loading...
New Message
Please
login
to post a reply