DOT Resources Ltd.
TSX VENTURE : DOT

DOT Resources Ltd.

August 28, 2009 07:00 ET

DOT Resources Ltd.: Board Approves Application to Extend the Share Purchase Warrants

CALGARY, ALBERTA--(Marketwire - Aug. 28, 2009) - DOT Resources Ltd. (TSX VENTURE:DOT) ("DOT" or the "Corporation") announces that its board of directors has approved the making of an application to the TSX Venture Exchange Inc. for the approval of a two year extension in respect of the issued and outstanding share purchase warrants (the "Warrants") of the Corporation expiring on August 29, 2009. Extension of the Warrants is subject to regulatory body approval.

On August 29, 2007, DOT completed a private placement of 11,500,000 units at a purchase price of C$0.20 per unit for aggregate gross proceeds of C$2,300,000. Each unit was comprised of one common share and one-half of a Warrant, with each whole Warrant entitling the holder to acquire one common share of the Corporation at an exercise price of C$0.35 for a term of two years expiring on August 29, 2009. If the closing trading price of the Corporation's common shares is equal to or exceeds C$0.55 for fifteen consecutive trading days during the term of the Warrant, then the expiry time of the Warrants shall automatically accelerate to the date which is thirty days following the date a news release is issued by the Corporation announcing the reduced expiry time without further notifications made by the Corporation, after which time the Corporation's Warrants shall be null and void.

All other terms and conditions attached to the Warrants remain unchanged.

ABOUT DOT

DOT is a Canadian corporation currently focused on the exploration and development of its copper property in central British Columbia. The Corporation is planning to assess future copper and copper-gold properties for exploration and development opportunities throughout North and South America.

DOT shares trades on the TSX Venture exchange under the symbol DOT. There are 41,500,001 DOT shares outstanding. The Corporation's website can be accessed at www.dotresourcesltd.com.

Forward-Looking Statements

Certain statements contained in this news release constitute "forward-looking statements" as such term is used in applicable Canadian and US securities laws. These statements relate to analyses and other information that are based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management. In particular, statements concerning the obtaining of regulatory body approval and other factors or events described in this news release should be reviewed as forward-looking statements to the extent they involve estimates thereof.

Such forward looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Corporation to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such risks and other factors include, among others, the inability to obtain regulatory body approvals and such other business risks as discussed herein and other publicly filed disclosure documents. Although the Corporation has attempted to identify important factors that could cause actual events or results to differ materially from those described in forward-looking statements, there may be factors that cause actions, events or results not to be as anticipated, estimated of intended. There can be no assurance that such statements will prove to be accurate as actual results and future events could vary or differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements contained in this news release.

Forward-looking statements are made based on management's beliefs, estimates and opinions on the date the statements are made and the Corporation undertakes no obligation to update forward-looking statements should these beliefs, estimates and opinions or other circumstances change, except as required by applicable law. Investors are cautioned that such forward-looking statements involve risks and uncertainties. The forward-looking statements contained herein are expressly qualified by this cautionary statement.

Neither the TSX Venture Exchange Inc. nor its Regulation Services Provider (as that term is defined in the Policies of the TSX Venture Exchange Inc.) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • DOT Resources Ltd.
    Ihor P. Wasylkiw
    Chief Information Officer
    (403) 264-2647
    or
    DOT Resources Ltd.
    Don D. McKechnie
    Chief Financial Officer
    (403) 264-2647
    www.dotresourcesltd.com