VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 8, 2013) - Alpha Minerals Inc. (TSX VENTURE:AMW), (the "Company" or "Alpha"), reports that there are presently 2,347,616 Warrants exercisable at $1.00, and 12,400 Compensation Options exercisable at $0.50 and 88,340 Compensation Warrants exercisable at $1.00 with an expiry date of May 25, 2015.
Under the terms and conditions of the Warrant and Compensation Option Certificates from the May 25, 2010 financing, the Company has the right to require the conversion of any Warrants and Compensation Options into the respective underlying securities thereof at the applicable exercise price should the Common Shares trading on the Exchange close for 20 consecutive trading days at a price of $2.00 (Canadian) or above (the "Conversion Right"). This Conversion Right occurred on February 6, 2013 after market close.
The Company is exercising its Conversion Right and will send notice to the holders of the Warrants, Compensation Options and Compensation Warrants, whom shall have 20 Business Days after the receipt of the conversion notice to exercise. Any Warrants, Compensation Options or Compensation Warrants that have not been exercised within the prescribed time period shall be deemed to have expired.
On behalf of the Board of Directors of Alpha Minerals Inc.
"Ben Ainsworth", President, CEO and Director
This press release contains "forward-looking information" that is based on Alpha's current expectations, estimates, forecasts and projections. This forward-looking information includes, among other things, statements with respect to Alpha's development plans. The words "will", "anticipated", "plans" or other similar words and phrases are intended to identify forward-looking information.
Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause Alpha's actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information. Such factors include, but are not limited to: uncertainties related exploration and development; the ability to raise sufficient capital to fund exploration and development; changes in economic conditions or financial markets; increases in input costs; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; technological or operational difficulties or inability to obtain permits encountered in connection with exploration activities; and labour relations matters. This list is not exhaustive of the factors that may affect our forward-looking information. These and other factors should be considered carefully and readers should not place undue reliance on such forward-looking information. Alpha disclaims any intention or obligation to update or revise forward-looking information, whether as a result of new information, future events or otherwise.