Amerix Precious Metals Corporation
TSX VENTURE : APM
FRANKFURT : NJG

Amerix Precious Metals Corporation

March 26, 2007 08:30 ET

Amerix Precious Metals Announces Approval to Amend Warrants

TORONTO, ONTARIO--(CCNMatthews - March 26, 2007) - Amerix Precious Metals Corporation ("Amerix") (TSX VENTURE:APM)(FRANKFURT:NJG) announces that it has received the approval of the TSX Venture Exchange to amend the terms of the warrants (the "Warrants") exercisable for 3,000,000 common shares of Amerix originally issued in connection with a brokered private placement which was first announced on March 23, 2006 and which closed on April 7, 2006.

Pursuant to the original terms of the Warrants, each Warrant entitles the holder thereof to purchase one common share of Amerix at a price of $0.70 at any time prior to April 6, 2007, provided that if the closing price of the common shares of Amerix on the TSX Venture Exchange is equal to or greater than $0.88 per common share for a period of ten consecutive trading days at any time after August 8, 2006, Amerix can accelerate the expiry date of the Warrants by giving notice to the holders thereof and in such case the Warrants will expire on the 20th day after the date on which such notice is given by Amerix.

Amerix has received the approval of the TSX Venture Exchange to amend to the Warrants to (i) change the exercise price of the Warrants from $0.70 to $0.40 and (ii) extend the expiry term of the Warrants from April 6, 2007 to January 4, 2008. Accordingly, if the closing trading price of the common shares of Amerix on the TSX Venture Exchange is equal to or greater than $0.45 per common share for a period of ten consecutive trading days the Corporation may accelerate the expiry date of the Warrants by giving notice to the holders thereof and in such case the Warrants will expire on the 20th day after the date on which such notice is given by the Corporation.

In addition, in accordance with the requirements of the TSX Venture Exchange, the amended Warrants will be subject to an automatic 30 day expiry period in the event that the closing trading price of the common shares of Amerix on the TSX Venture Exchange is equal to or greater than $0.50 per common share for a period of ten consecutive trading days (the "Premium Trading Days") with the 30 day period commencing on the seventh calendar days after the end of the Premium Trading Days.

There are no Warrants held by insiders of Amerix.

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 the Corporation 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 ana@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
    Keith A. Laskowski
    President and CEO
    (720) 272-6224
    Email: keith@amerixcorp.com
    or
    CHF Investor Relations
    Jeanny So
    Broker Relations Specialist
    (416) 868-1079 ext. 225
    Email: jeanny@chfir.com