Stay Gold Inc Announces Warrant Exercise Incentive Program
(firmenpresse) - HALIFAX, NOVA SCOTIA -- (Marketwire) -- 01/11/12 -- Stay Gold Inc. ("Stay Gold" or the "Corporation") is pleased to announce the implementation of warrant exercise incentive program (the "Incentive Program") intended to encourage the exercise of up to 1,660,000 outstanding common share purchase warrants of the Company which were issued as part of the Company's private placement in January-March 2011 (the "Eligible Warrants"). Each Eligible Warrant is currently exercisable for one common share of the Company at a price of $0.15 and expires January 31st, 2012.
Summary of the Incentive Program
The Incentive Program will be open for a 20-day period (the "Exercise Period") that will run from January 12th through January 31st, 2012. During the Exercise Period, holders who exercise their Eligible Warrants in accordance with the terms of the Incentive Program will receive one common share purchase warrant (an "Incentive Warrant") in addition to the common share issuable under the current terms of the Eligible Warrants. Each Incentive Warrant will entitle the holder to purchase one additional common share of the Company at a price of $0.25 for a period of twenty four months from the date of issue.
A letter detailing the terms and conditions of the Incentive Program and the method of exercising the Eligible Warrants will be sent via electronic and regular mail to the registered address of each Eligible Warrant-holder, along with a subscription agreement to be completed by Warrant holders in relation to the issuance of the Incentive Warrants (collectively, the "Exercise Package"). Holders of Eligible Warrants are welcome to contact the Company directly to request an Exercise Package.
Assuming exercise of all Eligible Warrants under the Incentive Program, the Company would receive gross proceeds of up to $249,000, issue up to 1,660,000 Common Shares pursuant to the exercise of the existing Warrants and issue up to 1,660,000 Incentive Warrants. Proceeds from the exercise of the Eligible Warrants will be used for exploration on the Company's gold prospects, as well as for general working capital purposes.
All Incentive Warrants issued will be subject to a hold period pursuant to applicable securities regulations commencing on the date of issuance of the Incentive Warrants. Any common shares issued upon the exercise of the Incentive Warrants within the hold period will be similarly restricted.
The Eligible Warrants are not listed on any stock exchange, nor will the Incentive Warrants.
If a Warrant holder elects not to exercise his or her Warrants prior to the end of the Exercise Period, such unexercised Warrants will expire, as per the same terms applicable to such Warrants, as they existed prior to the Incentive Program.
The incentive program is subject to compliance with all applicable regulatory requirements.
About Stay Gold:
Stay Gold Inc. is a gold focused exploration company with a portfolio of high potential gold prospects. The Corporation's strategic land position, located in the historic gold producing region of Nova Scotia, provides a platform for expedient resource development and new discoveries.
The Corporation's Securities are not listed on any stock exchange and no stock exchange has reviewed or accepts responsibility for the adequacy or accuracy of this release.
Forward Looking Information:
This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address future exploration programs, exploitation activities and events or developments that the Corporation expects, are forwardlooking statements. Although the Corporation believes that the expectations expressed in such forwardlooking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in the forward-looking statements include exploitation and exploration successes, continued availability of financing, and general economic, market or business conditions.
Contacts:
Stay Gold Inc.
Brendan Matheson
President and CEO
(902) 832-1137
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Unternehmensinformation / Kurzprofil:
Datum: 11.01.2012 - 21:56 Uhr
Sprache: Deutsch
News-ID 103385
Anzahl Zeichen: 0
contact information:
Town:
HALIFAX, NOVA SCOTIA
Kategorie:
Mining & Metals
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