High River Gold Mines Ltd.
TSX : HRG

High River Gold Mines Ltd.

April 04, 2006 15:09 ET

High River Gold Reports on Early Exercise of Warrants

TORONTO, ONTARIO--(CCNMatthews - April 4, 2006) - High River Gold Mines Ltd. ("High River") (TSX:HRG) is pleased to announce that High River's warrant exercise programme, for the early exercise of the warrants expiring on January 27, 2007 (the "2005 Warrants") announced on March 9, 2006, is complete.

Pursuant to the amendment to the terms of the existing 2005 Warrants, holders who exercised their 2005 Warrants in full after the announcement and prior to March 31, 2006 became entitled to one new common share purchase warrant (the "2006 Warrant") entitling the holder thereof to acquire an additional common share of High River at an exercise price of $2.50 until January 27, 2008. A total of 11,885,000 Warrants (99.8% of the outstanding warrants) were exercised for gross proceeds of $19,016,000. As such, 11,885,000 2006 Warrants will be issued. Proceeds will be used for working capital purposes.

The Company was assisted in the warrant exercise programme by Paradigm Capital Inc. Following completion of the programme, 27,500 2005 Warrants, with an expiry date of January 27, 2007 and an exercise price of $1.60 per common share, remain outstanding.

FORWARD LOOKING STATEMENTS

This press release contains forward-looking statements based on current expectations. These forward-looking statements entail various risks and uncertainties that could cause actual results to differ materially from those reflected. Risk and uncertainties about the Company's business are more fully discussed in the Management's Discussion and Analysis published in the Company's Annual Report and in the Annual Information Form.

Contact Information

  • High River Gold Mines Ltd.
    Don Whalen
    Executive Chairman
    (416) 947-1440
    (416) 360-0010 (FAX)
    or
    High River Gold Mines Ltd.
    David Mosher
    President & CEO
    (416) 947-1440
    (416) 360-0010 (FAX)
    info@hrg.ca
    www.hrg.ca