LBE News: Acceleration of the Expiry Date of the Feb 27 Warrants
08:53 EST Tuesday, November 21, 2006
FSC / Press Release
globeinvestor.com
Acceleration of the Expiry Date of the Feb 27 Warrants
Timmins, Ontario CANADA, November 21, 2006 /FSC/ - Liberty Mines Inc. (LBE - TSX Venture), ("Liberty or the Corporation") is pleased to announce that its shares have closed for twenty consecutive trading days at or above $1.25 per share. Pursuant to terms of the warrants issued with the sale of units and Broker warrants, the exercise date of the warrants will be automatically accelerated to expire within 30 days of the notice given in this press release.
In a private placement which closed Feb 27th, and March 7th, 2006 202,000 units were sold consisting of one common share plus one half a share purchase warrant attached. In addition 3,293,785 Flow-Through shares were issued. Broker warrants for 200,000 shares were issued as part of the broker's remuneration. The broker warrants were issued with the same terms and exercise price. Each whole warrant is exercisable at $0.85 until Feb 27th, 2008 subject to an acceleration provision. This provision automatically accelerates the exercise date to 30 days following the date a press release is issued which announces that the company's shares have closed at or above $1.25 for 20 consecutive trading days. This press release serves as notice that this provision has been met and that a total of 301,000 warrants will expire unless exercised prior to December 20th, 2006 at 5:00 P.M.
About Liberty Mines Inc.
Liberty Mines Inc. is a mineral exploration and development company with a focus on the development and production of nickel, cobalt and platinum group metals from its properties in Ontario.
For further information please contact:
Dr. Gary Nash, PhD (Physics), President & CEO
Liberty Mines Inc.
Phone (416) 238-9736
Fax 780-437-7898
e-mail: gnash@libertymines.com
Press Release 25-06
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