Wilton Resources Inc.
TSX VENTURE : WIL

October 29, 2015 13:06 ET

Wilton Resources Inc. Proposes Amendment to Warrants

CALGARY, ALBERTA--(Marketwired - Oct. 29, 2015) -

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Wilton Resources Inc. (the "Corporation") (TSX VENTURE:WIL) intends to make application to the TSX Venture Exchange (the "Exchange") to amend the exercise price of the 1,045,000 common share purchase warrants (the "Warrants") that were issued to subscribers as part of the Corporation's non-brokered private placement ("Private Placement") of units of the Corporation ("Units") which closed on June 29, 2015. Units that were issued pursuant to the Private Placement consisted of one common share of the Corporation ("Common Share") and one Warrant, with each Warrant entitling the holder to purchase one Common Share for a period of 24 months from the date of issuance at an exercise price of $0.75. Subject to Exchange approval, the Corporation intends to reduce the exercise price of the Warrants from $0.75 to $0.60 (the "Warrant Amendment"). All other terms of the Warrants remain the same. The Corporation will deliver a Notice reflecting the amended exercise price to the registered holders of the Warrants once Exchange approval has been obtained.

There can be no assurance that the Notice will be delivered or that the Corporation will obtain Exchange approval with respect to the Warrant Amendment. Furthermore, if the Notice is delivered and Exchange approval is provided, there can be no assurance warrantholders will elect to exercise their Warrants at the reduced price.

Additional information regarding Wilton Resources is available online on www.sedar.com

Forward-Looking Information

Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words "intend", "may", "will", "expect", and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Corporation's current beliefs or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. In particular, this press release contains forward-looking information with respect to the receipt of Exchange approval with respect to the Warrant Amendment. Various assumptions or factors are typically applied in drawing conclusions or making the forecasts or projections set out in forward-looking information. Those assumptions and factors are based on information currently available to the Corporation. The material facts and assumptions include obtaining approval of the Exchange of the proposed Warrant Amendment. The Corporation cautions the reader that the above list of risk factors is not exhaustive. The forward-looking information contained in this release is made as of the date hereof and the Corporation is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Due to the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward- looking information. The foregoing statements expressly qualify any forward-looking information contained herein.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • Wilton Resources Inc.
    Richard G. Anderson
    Chief Executive Officer
    (403) 619-6609