Galore Resources Inc.

Galore Resources Inc.

March 08, 2011 16:00 ET

Galore Proposes to Extend Warrants

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 8, 2011) - Galore Resources Inc. (TSX VENTURE:GRI) (the "Company") proposes to extend by four (4) months the expiry date of the following share purchase warrants:

  • Warrants to purchase up to 8,625,000 common shares at an exercise price of $0.20 per share until March 25, 2011, issued in connection with a non-brokered private placement completed in March 2009.

If accepted by the TSX Venture Exchange (the "Exchange"), the Company will extend the expiry date of the 8,625,000 share purchase warrants to July 25, 2011. The extension of the term of the Warrants shall be subject to the condition that if at any time following March 25, 2011, the closing price of the common shares of the Company exceeds $0.35 for 5 consecutive trading days, then the term of the Warrants shall, at the Company's election, be automatically reduced and the Warrants shall expire on the date that is 30 days following the issuance of a press release by the Company announcing the reduced warrant term.

The application to amend the warrants is subject to the Exchange's acceptance, and the Company makes no assurances that the required acceptance for the extension of the term of the warrants will be granted.

Galore Resources is a British Columbia-based exploration company that has assembled a leading group of industry professionals to acquire and explore for promising deposits in Mexico and British Columbia. 

Michael W. Byrne, President

Cautionary Note Regarding Forward-Looking Information: The Company expressly warns readers not to rely on the information herein for investment or other related purposes. Accordingly, any use of this information is at your own risk and without liability to the company. The information contained herein is not, and under no circumstances is to be construed as either a public or a private offer or solicitation to purchase securities in the capital stock of Galore Resources Inc. The reader is referred to his/her professional investment advisor regarding investment or related decisions respecting the securities of the company. No securities commission or similar regulatory authority has passed on the merits of or reviewed the information contained herein.

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.

Contact Information

  • Galore Resources Inc.
    Erica C Bearss, MBA
    Vice President Corporate Communications
    604-647-2298 or Toll Free: 1-877-647-2298
    604-647-0086 (FAX)
    Skype: 1-206-388-2423