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Gold/Mining/Energy : Winspear Resources -- Ignore unavailable to you. Want to Upgrade?

To: Mark Bartlett who wrote (5265)	2/24/1998 7:37:00 PM
From: Sapper	Respond to of 26850

Warrant term corrected Winspear Resources Ltd WSP Shares issued 30,933,265 Feb 24 close $0.99 Tue 24 Feb 98 News Release Mr John McDonald reports Winspear wishes to make a correction to its press release which appeared in Stockwatch February 24 1998, in which terms were announced for certain outstanding share purchase warrants issued on July 8 1997 and extended from 12 months to 60 months. On July 8 1997, 1,650,000 shares and 825,000 warrants (the investor 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, in addition, 155,105 share purchase warrants (the agent's warrant) were issued to the agent on the exercise of the 155,105 agent's special warrants. As originally issued, each, FT warrant entitled the holder to purchase one common share at $3.75 per share at any time until 4:00 pm on March 10 1998. As a result of the extension of the terms of the warrants, each FT warrant now entitles the holder to purchase one common share of the company at: i) $3.75 per share to March 10 2000; ii) $4.32 per share to March 10 2001; and iii) $4.88 to March 10 2002. Item ii) was incorrectly reported as $4.23 per share in the February 23 press release. Terms for the non-FT warrants and for the agent's warrants were correctly reported on February 23. (c) Copyright 1998 Canjex Publishing Ltd. canada-stockwatch.com