Amerix Precious Metals Corporation
TSX VENTURE : APM
FRANKFURT : NJG

Amerix Precious Metals Corporation

November 16, 2007 08:30 ET

Amerix Precious Metals Corporation: Acceleration of Warrants Expiration

TORONTO, ONTARIO--(Marketwire - Nov. 16, 2007) - Amerix Precious Metals Corporation ("Amerix") (TSX VENTURE:APM)(FRANKFURT:NJG) is pleased to announce that the closing price of the common shares of Amerix on the TSX Venture Exchange has been greater than $0.45 per share over a period of ten consecutive trading days and accordingly, Amerix has elected to accelerate the expiry of the warrants (the "Warrants") originally issued on April 7, 2006 and as subsequently amended as announced in a press release dated March 26, 2007.

Holders may exercise the Warrants before 5:00 p.m. (Toronto time) on December 13, 2007 by completing the subscription form attached as schedule A to the certificates representing the Warrants, surrendering the certificates representing the Warrants and paying an amount equal to the purchase price of the number of common shares subscribed for, all in accordance with the terms of the Warrants.

There are currently 3,000,000 Warrants outstanding and if all the Warrants are exercised, Amerix will receive proceeds of $1,200,000.

Amerix notes that the 7,545,000 warrants to purchase common shares of Amerix issued as part of the private placement of units of Amerix which closed on August 8, 2007 (the "Private Placement") are also subject to accelerated expiry if, after December 9, 2007, the closing price of the common shares of Amerix on the TSX Venture Exchange is greater than $0.45 per common share for ten consecutive trading days. Each such warrant entitles the holder thereof to purchase one common share of Amerix at a price of $0.35 at any time until August 8, 2008. In connection with the Private Placement, Coniston Investment Corp. ("Coniston") received a broker warrant (the "Broker Warrant") exercisable for 1,483,000 units (individually a "Broker Unit") of Amerix. Each Broker Unit is exercisable for one common share of Amerix and one-half of one common share purchase warrant (each whole warrant an "Underlying Warrant") at a price of $0.25 per Broker Unit until August 8, 2008. The Underlying Warrants are subject to the same terms as the warrants issued in connection with the Private Placement, including the acceleration provisions.

About Amerix Precious Metals Corporation

Amerix Precious Metals Corporation is an Ontario corporation exploring for precious metals in Brazil. Vila Porto Rico and Limao are gold projects in the Tapajos Gold Province in Brazil. The common shares of Amerix trade on the TSX Venture Exchange under the symbol "APM" and at the Frankfurt Stock Exchange under the symbol "NJG".

Additional information regarding the Corporation, including the audited consolidated financial statements of Amerix for the financial year ended July 31, 2006, and related management's discussion and analysis of results, can be found on SEDAR at www.sedar.com.

If you would like to receive press releases via email, please contact jeanny@chfir.com and specify "Amerix press releases" in the subject line.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Amerix Precious Metals Corporation
    Lawrence W. Snee
    President
    (303) 668-7216
    or
    CHF Investor Relations
    Jeanny So
    Broker Relations Specialist
    (416) 868-1079 Ext. 225
    Email: jeanny@chfir.com
    or
    Studer Consulting
    Marlies E. Studer
    +41 44 215 28 03
    Email: consulting@studer-ir.ch