EMC Metals Corp.
TSX : EMC

EMC Metals Corp.
Golden Predator Royalty & Development Corp.

Golden Predator Royalty & Development Corp.

April 09, 2009 11:55 ET

Update on Rights Offering of Golden Predator Royalty & Development Corp.

VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 9, 2009) -

NOT FOR DISTRIBUTION IN THE UNITED STATES OR TO U.S. NEWSWIRE SERVICES

EMC Metals Corp. (EMC) (TSX:EMC) and Golden Predator Royalty & Development Corp. (GPD) wish to notify shareholders eligible to participate in the recent spin-off of GPD, that the deadline for exercising share purchase rights of GPD (the "Rights") has been extended to April 15, 2009. The extension provides additional time to accommodate ongoing exercises by holders of the Rights, as well as to provide additional time for former Golden Predator Mines Inc. shareholders to exchange their old certificates for new EMC and GPD certificates. The Rights were previously extended from March 27, 2009 to April 7, 2009. Former registered Golden Predator Mines Inc. shareholders are reminded to submit their old share certificate to Olympia Trust Company along with a completed Letter of Transmittal in order to receive their new EMC and GPD certificates.

To date, approximately 7,750,000 Rights have been exercised for total proceeds of $3,875,000. GPD's Chairman and CEO, Bill Sheriff, has exercised 875,282 Rights for a total investment of $437,641. As a result of the exercise of his Rights, Mr. Sheriff now directly and indirectly owns a total of 1,750,564 shares of GPD.

Each Right is exercisable at an exercise price of $0.50 to acquire one common share of GPD and one-half of a share purchase warrant of GPD (a "Rights Warrant"). Each whole Rights Warrant may be exercised for a period of one year from the date GPD is listed on a Canadian stock exchange to acquire one additional share at exercise prices of $0.60 per share for the first 3 months from the listing date, and thereafter at $0.65, $0.75 and $0.90 per share for each subsequent 3 month period respectively, subject to a maximum exercise period expiring September 6, 2010.

About EMC Metals Corp.

EMC Metals is a specialty metals and alloys company focusing on tungsten, molybdenum, vanadium, uranium and other specialty metals within North America. The Company's flagship, Nevada based Springer Tungsten Project was constructed by the General Electric Company in 1980 and boasts a fully permitted 1,000 tpd mill facility. EMC is strategically positioned to leverage the benefits of strengthening tungsten market dynamics including diminished Chinese supply and significant growth in tungsten applications. EMC Metals acquired Springer in 2006 and has spent approximately $38 million to date on its rehabilitation and expansion.

About Golden Predator Royalty & Development Corp.

Golden Predator Royalty and Development Corp. (GPRD) is focused on becoming a mid-tier gold-silver producer in Nevada by 2010. The Company intends to feed one of its two centrally located mills, or a newly designed modular mill, with ore trucked from high-grade satellite deposits. If successful GPRD will be uniquely positioned as a niche operator within one of the world's richest and most politically stable, gold endowed regions.

This press release does not constitute an offer of securities in the United States. The securities referenced herein, including the share purchase rights and the shares and warrants underlying the share purchase rights, have not been and will not be registered under any federal or state securities law of the United States, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements. The share purchase rights and warrants underlying the share purchase rights may not be exercised in the United States or by U.S. Persons except in very limited cases. Please refer to the Rights certificate for additional information on these restrictions.

The Toronto Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the contents of this press release.

Contact Information

  • EMC Metals Corp.
    Peter Bosse
    President
    (916) 789-1953
    or
    Golden Predator Royalty & Development Corp.
    Steven Vanry
    President
    (604) 648-4660