TORONTO, ONTARIO--(Marketwired - March 6, 2017) - Nitinat Minerals Corporation (the "Corporation") (TSX VENTURE:NZZ) is pleased to announce that, subject to the receipt of TSX Venture Exchange approval, it has agreed to amend the expiry date of the 2,500,000 common share purchase warrants (the "Warrants") of the Corporation from March 5, 2017 to March 5, 2019.
The Warrants, which were originally issued on March 5, 2015, were issued in connection with a private placement of 2.5 million units at a deemed price of $0.05 per unit (the "Units"). Each Unit was comprised of one (1) common shares and one (1) common share purchase warrant (the "Warrant"). Each Warrant entitles the holder thereof to acquire one (1) common share at an exercise price of $0.10 per share at any time until close of business on March 5, 2017. As the original expiry date of the Warrants fell on a Sunday, the terms of the warrant certificate provides that the expiry date of the Warrants is automatically extended to 5:00 p.m. on the next business day, which is March 6, 2017.
Each Warrant, as amended, entitles the holder thereof to purchase one common share of the Corporation at any time until the close of business on March 5, 2019 at an exercise price of $0.10 per common share.
The Warrants will be amended, effective March 6, 2017, to extend the term of the Warrants until March 5, 2019. All other provisions of the Warrants will remain the same.
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This press release contains forward-looking statements based on assumptions, uncertainties and management's best estimates of future events. Actual results may differ materially from those currently anticipated. Investors are cautioned that such forward-looking statements involve risks and uncertainties. Important factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements are detailed from time to time in the Corporation's periodic reports filed with the Ontario Securities Commission and other regulatory authorities. The Corporation has no intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.