Hathor Exploration Limited

Hathor Exploration Limited

October 16, 2008 16:42 ET

Hathor Exploration Limited: Early Expiry of $2.00 Warrants; Working Capital Rises to $30 Million

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 16, 2008) - Hathor Exploration Limited (TSX VENTURE:HAT) announces that the term of its C$2.00 warrants expired yesterday. Hathor elected to trigger the accelerated expiry feature on September 10, 2008. Of the 5,336,478 warrants that were issued, 3,494,481 were exercised for cash proceeds of nearly C$7 million. As at October 15, 2008, Hathor had working capital of $30 million and shares issued totalling 82,674,926. Following this early expiry of warrants, Hathor now has only 300,000 warrants outstanding, exercisable at $3.00 per share until June 12, 2010.

With capital resources of $30 million, Hathor continues to aggressively advance its portfolio of Athabasca region uranium exploration projects. This area accounts for approximately 23 per cent of the world's annual mine production of uranium. All of this production comes from unconformity-style uranium ore deposits - the highest-grade uranium ore deposits in the world.

Hathor Exploration Limited

Stephen G. Stanley, Director

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Contact Information

  • Hathor Exploration Limited
    Stephen Stanley
    (604) 684-6707
    Hathor Exploration Limited
    Tony Nunziata
    (403) 560-7040
    Website: www.hathor.ca