Warrants extended
Winspear Resources Ltd WSP
Shares issued 30,933,265 Feb 20 close $0.95
Mon 23 Feb 98 News Release
Mr John McDonald reports
The company has extended the term of certain outstanding warrants issued on
July 8 1997 from 12 months to 60 months.
On July 8 1997, 1,650,000 shares and 825,000 warrants (as to 412,500
non-flow through warrants and as to 412,500 flow through warrants) were
issued on the exercise of the 1,650,000 special warrants (as to 825,000
non-flow through special warrants and as to 825,000 flow through special
warrants) and 155,105 warrants were issued to the agent on the exercise of
the 155,105 agent's special warrants.
As originally issued, each non-flow through warrant and each agent's
warrant entitled the holder to purchase one share at $3.50 and each flow
through warrant entitled the holder to purchase one share at $3.75 until
March 10 1998.
As a result of the extension of the term of the investor warrants and the
agent's warrant:
Each non-flow through warrant and each agent's warrant now entitles the
holder to purchase one share at $3.50 until March 10 2000, $4.03 until
March 10 2001 and $4.55 until March 10 2002; and,
Each flow through warrant now entitles the holder to purchase one share at
$3.75 until March 10 2000, $4.23 until March 10 2001, and $4.88 until March
10 2002.
All investor warrants and agent's warrants expire at 4:00 pm March 10 2002.
As at February 19 1998, no investor warrants and no agent's warrants had
been exercised.
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