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Waymar Resources Ltd. to Extend Term of Warrants
By: Marketwired .
Jan. 30, 2013 07:00 PM
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 01/30/13 -- Waymar Resources Ltd. (TSX VENTURE:WYM) (the "Company" or "Waymar") announces that it will make an application to the TSX Venture Exchange (the "TSXV") to extend the term of its Series 2011-I warrants.
An aggregate of 5,750,000 Series 2011-I warrants were originally issued on February 16, 2011 and are exercisable at $1.50 per share until 5:00 p.m. (Toronto time) on February 16, 2013, provided that if the closing price of the common shares of Waymar on the TSXV is equal to or higher than $2.50 per share for a period of 20 consecutive trading days, Waymar may accelerate the expiry date of the Series 2011-I warrants to the 30th day after the date on which notice of the accelerated expiry date is given to the holders of such warrants by Waymar (the "Acceleration Provisions").
The Company is applying to the TSXV to extend the expiry date of the Series 2011-I warrants to February 16, 2014, subject to the Acceleration Provisions. The exercise price for the Series 2011-I warrants will remain the same.
The warrant amendments have been approved by the board of directors of the Company, subject to the receipt of regulatory approval. The warrant amendments remain subject to TSXV approval.
About Waymar Resources Ltd.
Waymar Resources Ltd. is a Canadian mineral exploration company with an option to acquire 100% interest in the Anza project located in the west of the Antioquia Department in the Republic of Colombia. Upon exercise of the option, the optionors will retain a 2% net smelter return royalty on that portion of the Anza property governed by the Option Agreement, one-half of which may be purchased by Waymar for a cash payment of US$1,000,000. Waymar also has 100% ownership of certain properties surrounding Anza that cover the district's mineral potential and is continually seeking opportunities to acquire exploration properties. Colombia is a significant producer of gold, nickel, emeralds, petroleum and natural gas as well as a leading producer of coal in Latin America.
WAYMAR RESOURCES LTD.
Pablo Marcet, President & CEO
Forward Looking Statements - Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company, including, but not limited to the availability of applicable regulatory approvals. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements.
Shares Outstanding: 46,945,170
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 release.
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