Canamex Resources Corp. (CNMXF: OTC Link) | Canamex Applies to Reduce the Exercise Price of Warrants

Canamex Applies to Reduce the Exercise Price of Warrants

Sep 11, 2012

OTC Disclosure News Service

Vancouver, BC, Canada –

CANAMEX RESOURCES CORP.

Suite 303, 595 Howe Street

Vancouver, B.C. V5C 2T5

Phone (604) 336-8612  Fax:  (604) 718-2808

www.canamex.us


NEWS RELEASE


Canamex Applies to Reduce the Exercise Price of Warrants

(September 11, 2012) Canamex Resources Corp. (TSX-V: CSQ) (OTCQX: CNMXF) (FSE: CX6) announces that it will file an application with the TSX Venture Exchange (the “Exchange”) to reduce the exercise price of previously issued warrants to purchase a total of 10,866,000 shares (the “Warrants”) to $0.26 per share.

The Warrants were originally issued on August 10, 2012 (see News Release dated August 10, 2012).  Each Warrant entitles the holder to purchase one  common share of the Company for a period of two years from the date of issuance at a price of $0.40 per share in the first year, and thereafter at a price of $0.50 in the second year, subject to an acceleration provision whereby in the event that the weighted average closing price of the Company’s shares on the Exchange equals or exceeds $0.75 during any 20 consecutive trading days commencing four (4) months after the date of issuance of the Warrants, then the Company may within 30 days of such an occurrence give notice in writing to the holders of the Warrants that the Warrants shall expire at 5:00 p.m. (Vancouver time) on the 20th business day following delivery of such notice unless exercised by the holders of the Warrants prior to such time. 

Subject to receipt of acceptance from the Exchange, the exercise price of the Warrants will be reduced to $0.26 for the remainder of the existing two year term of the Warrants.  Other than the reduction in the exercise price, all other Warrant provisions will remain the same.

ON BEHALF OF THE BOARD


SIGNED: Robert Kramer

 

Robert Kramer, CFO

Contact: Robert Kramer (604) 336-8621

 

Renmark Financial Communications Inc.

Erica Lomonaco: elomonaco@renmarkfinancial.com

Barbara Komorowski: bkomorowski@renmarkfinancial.com

Tel.: (514) 939-3989 or (416) 644-2020 www.renmarkfinancial.com

 

Neither the 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.

 

 

The above news release has been provided by the above company via the OTC Disclosure and News Service. Issuers of news releases and not OTC Markets Group Inc. are solely responsible for the accuracy of such news releases.

Article source: http://www.otcmarkets.com/stock/CNMXF/news?id=52405

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