METANOR RESOURCES INC.
TSX VENTURE : MTO

METANOR RESOURCES INC.

August 28, 2006 10:02 ET

Metanor Resources Inc.: Report of the Warrants Expiration Delay-Private Placements Closed on March and June 2005

VAL-D'OR, QUEBEC--(CCNMatthews - Aug. 28, 2006) - Metanor Resources Inc. (TSX VENTURE:MTO) "Metanor" announces she asked to the TSX Venture Exchange the prolongation of the exercise date of the warrant issued with reference to the private placements closed on March and June 2005. The first private placement was closed during the two closing session performed on March 10 and 24, 2005. The second private placement was closed on April 18, 2005 and also on June the 20 and 28, 2005.

The 6,902,467 warrants issued entitling its holder to subscribe one common share of the company at a price of $0.85 per share within a period of 18 months from the date of issuance. The expiration dates were initially settled to September 10 and 23, October 17, December 19 and 28, 2006. The petition presented to the TSX Venture is targeting the report and the standardization of the expiration date. The new expiration date of those 6,902,467 warrants will be March 31, 2007. Except for the prolongation of the exercise delay, all the modalities and conditions of the warrant stay the same.

20,460,629 outstanding shares

TSX Venture Exchange does not accept any responsibility for the adequacy or the accuracy of the press release.

Contact Information

  • Metanor Resources Inc.
    Serge Roy
    President and CEO
    (819) 825-8678
    (819) 856-8435 (cell)
    info@metanor.ca