Wits Basin Precious Minerals Extends Warrant Exercise Period
MINNEAPOLIS--(BUSINESS WIRE)--Nov. 10, 2003--Wits Basin Precious Minerals Inc., f/k/a Active IQ Technologies, Inc. (WITM - news) today announced it has extended the expiration date for the Company's 690,000 redeemable publicly-traded warrants, which currently trade under the OTC Bulletin Board symbol WITMW (prior to August 20, 2003 under the OTCBB symbol AIQTW). The Company's board of directors has authorized an extension in the expiration date to May 31, 2004 from the previous extended date of November 28, 2003.
The terms of the redeemable warrants are as follows: each warrant represents the right to purchase one (1) share of the Company's common stock, $0.01 par value, at an exercise price of $7.15 per share until May 31, 2004. The warrants are redeemable by the Company at a redemption price of $0.10 per redeemable warrant at any time on 30 days' notice, provided that the market price of our common stock equals or exceeds $8.25 per share for 10 consecutive trading days ending within 20 days prior to the notice of redemption.
About Wits Basin Precious Minerals Inc.
Wits Basin (WITM - news) is actively participating in a joint venture for the exploration of new goldfields in the Republic of South Africa. Wits Basin is headquartered in Minneapolis, MN.
tinyurl.com |
