Gastem Inc.
TSX VENTURE : GMR

Gastem Inc.

October 07, 2009 15:30 ET

Gastem Announces Extension of Warrant Expiry Date

MONTREAL, QUEBEC--(Marketwire - Oct. 7, 2009) - Due to the exceptional economic conditions of the past 12 months and in order not to penalise subscribers, Gastem (TSX VENTURE:GMR) is extending three warrant term expiry dates by 12 months.

The 2,362,500 warrants with exercise price of $3.00 per common share from the April 2008 brokered private placement with the expiry date of October 22nd 2009 have term extended to October 22nd 2010. The 729,918 warrants with exercise price of $0.75 per common share from the November 2007 non-brokered private placement with the expiry date of November 5th 2009 have term extended to November 5th 2010. The 666,667 warrants with exercise price of $0.75 per common share from the December 2007 non-brokered private placement with the expiry date of December 14th 2009 have term extended to December 14th 2010. All other terms and conditions of the warrants remain unchanged.

In accordance with Policy 4.1 Private Placement, the modification of the terms of warrants is subject to the TSX Venture Exchange's final confirmation.

Gastem (61,044,000 shares outstanding) is an independent oil and gas exploration and development company and holds exploration and storage permits and rights to 3,135 km2 in the St. Lawrence Lowlands, the Gaspe Peninsula and the Magdalen Islands in Quebec as well as rights and interests in New York State and in Appalachia.

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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