Gleichen Resources Limited
TSX VENTURE : GRL

June 19, 2009 14:34 ET

Gleichen Resources Ltd. to Extend Term of Warrants

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 19, 2009) - Gleichen Resources Ltd. (TSX VENTURE:GRL) (the "Company") announces that it has made an application to the TSX Venture Exchange (the "TSXV") to extend the term of its warrants to July 5, 2010.

Ten million (10,000,000) warrants were originally issued on July 5, 2007 and are exercisable at $0.60 per share until July 5, 2009, provided that if the closing price of the Company's common shares is above $1.20 for 20 or more consecutive trading days, the Company has the right, on notice to the warrant holders, to accelerate the expiry date of the warrants to 20 business days following the date of such notice.

The amended warrants will expire on July 5, 2010, provided that if the closing price of the Company's common shares is above $1.20 for 20 or more consecutive trading days, the Company has the right, on notice to the warrant holders, to accelerate the expiry date of the warrants to 20 business days following the date of such notice. The exercise price of warrants will remain the same.

The warrant amendment has been approved by the board of directors of the Company.

The warrant amendments are subject to TSXV approval.

ON BEHALF OF THE BOARD OF DIRECTORS OF GLEICHEN RESOURCES LTD.

Michael Murphy, Director

Neither TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • Gleichen Resources Limited
    Michael Murphy
    (604) 687-3100