Guyana Frontier Amends the Terms of Share Purchase Warrants
VANCOUVER, July 25, 2012 /CNW/ - Guyana Frontier Mining Corp. ("Guyana Frontier") is pleased to announce it is amending the terms of share purchase warrants (the "Warrants") issued by way of a private placement closed (the "Private Placement") on August 4, 2012 (see Guyana Frontier news release dated August 5, 2011). The Private Placement was closed in two tranches, with an aggregate of 3,611,981 of the Warrants to expire on July 29, 2012 (the "July 29 Warrants") and an aggregate of 1,798,681 of the Warrants to expire on August 4, 2012 (the "August 4 Warrants"). Guyana Frontier is extending the term of the July 29 Warrants for a period of one year to July 29, 2013 and extending the term of the August 4 Warrants for a period of one year to August 4, 2013, and is reducing the exercise price of the July 29 Warrants and the August 4 Warrants to $0.15 per common share.
Pursuant to the provisions of TSX Venture Exchange (the "Exchange") Policy 4.1, the July 29 Warrants and the August 4 Warrants will be subject to an early expiry provision under which the remaining exercise period of the July 29 Warrants and the August 4 Warrants will be reduced to 30 days if, for any 10 consecutive trading days, the closing price of the Company's common shares on the Exchange exceeds $0.19.
Guyana Frontier received Exchange acceptance of the filing on July 24, 2012.
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.
FORWARD LOOKING STATEMENTS
This news release contains forward-looking statements that are based on the Guyana Frontier''s current expectations and estimates. Forward-looking statements are frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate", "suggest", "indicate" and other similar words or statements that certain events or conditions "may" or "will" occur, and include, without limitation, statements regarding the Guyana Frontier''s plans with respect to the closing of further tranches of the Private Placement and the total proceeds to be raised in the Private Placement. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause actual events or results to differ materially from estimated or anticipated events or results implied or expressed in such forward-looking statements, including the future state of the financial markets and other economic factors. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Guyana Frontier disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Forward-looking statements are not guarantees of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein.
SOURCE: Guyana Frontier Mining Corp.For further information:
about Guyana Frontier, please visit our website at www.guyanafrontier.com or contact Warren Stanyer, President and CEO, at (604) 558-0077.