Genesis Announces Warrant Amendment
Vancouver, British Columbia, March 23, 2016 – Genesis Metals Corp. (the "Company") (TSX-V: GIS) announces, subject to receipt of all necessary regulatory approvals, it will amend the exercise price and expiry date of certain common share purchase warrants previously issued in connection with private placements as follows:
|Date of issuance||Number of warrants(1)||Amended exercise price||Amended expiry date|
|June 6, 2012||59,555||$0.20||June 6, 2017(2)|
|September 27, 2012||205,167||$0.20||September 27, 2017(2)|
|October 30, 2012||18,333||$0.20||October 30, 2017(2)|
|1. March 26, 2013||232,167||$0.20||
2. March 26, 2017
|3. April 25, 2013||12,223||$0.20||
4. April 25, 2017
|5. September 24, 2013||94,777||$0.20||
6. September 24, 2017
(1) The number of warrants issued under these private placements was adjusted in connection with the Company's subsequent consolidations of its common shares. The above table reflects the number of warrants issued on a post-consolidation basis.
(2) For the warrants issued on June 6, 2012, September 27, 2012, and October 30, 2012, the amended exercise price and expiry date will only take effect once the current term of these warrants expires on June 6, 2016, September 27, 2016 and October 30, 2016, respectively. Once amended, the amended expiry date for these warrants will be reduced to 30 days in the event that for any ten consecutive trading days during the unexpired period the closing price of the Company's shares on the TSXV is $0.25 or higher.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For further information please contact
Genesis Metals Corp.
Suite 1500, 409 Granville Street, Vancouver, BC V6C 1T2
Telephone: 604-484-7855 Fax: 604-484-7155
This release contains certain “forward-looking information” under applicable Canadian securities laws concerning the proposed warrant amendment. Forward-looking information reflects the Company's current internal projections, expectations or beliefs and is based on information currently available to the Company. In some cases forward-looking information can be identified by terminology such as “may”, “will”, “should”, “expect”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, ”projects”, “potential”, “scheduled”, “forecast”, “budget” or the negative of those terms or other comparable terminology. Assumptions upon which such forward-looking information is based include that all required regulatory approvals will be obtained on a timely basis. Risk factors that could cause actual results to differ materially from those predicted herein include that approvals may not be obtained in a timely manner, or at all. Forward-looking information is not a guarantee of future performance and actual results and future events could differ materially from those discussed in any such forward-looking information. All of the forward-looking information contained in this news release is qualified by these cautionary statements. Readers cannot be assured that actual results will be consistent with such statements. If the necessary approvals are not obtained the warrants may expire, unexercised. Accordingly, readers are cautioned against placing undue reliance on any of the forward-looking information contained herein. The Company expressly disclaims any intention or obligation to update or revise any forward-looking information in this news release, whether as a result of new information, events or otherwise, except in accordance with applicable securities laws.