Big Red Diamond Corporation
TSX VENTURE : DIA

Big Red Diamond Corporation

January 16, 2008 14:57 ET

Big Red Diamond Corporation: Warrant Term Amendments

MONTREAL, QUEBEC--(Marketwire - Jan. 16, 2008) - Big Red Diamond Corporation (TSX VENTURE:DIA) ("DIA"-suspended) is pleased to announce that the Company has received conditional approval from the TSX Venture Exchange to amend the terms of 4,037,500 outstanding warrants as follows:

a) Extension of the expiry date of 1,500,000 warrants from December 31, 2007 to December 31, 2008 as well as the re-pricing of the warrants from an original exercise price of $0.125 per share to an amended exercise price of $0.15 per share;

b) Extension of the expiry date of 1,750,000 warrants from December 31, 2007 to December 31, 2008. The original exercise price of $0.15 per share and all other terms and conditions of the warrants will remaining unchanged; and

c) Extension of the expiry date of 787,500 warrants from December 31, 2007 to March 31, 2008. The original exercise price of $0.20 per share and all other terms and conditions of the warrants will remaining unchanged.

Contact Information

  • Ken Ralfs
    President and CEO
    604-662-7307
    604-662-3791 (FAX)
    or
    Martin Nicoletti
    CFO
    514-907-9016 - Ext. 160
    514-907-9017 (FAX)