Parkside Resources Announces Extension of Share Purchase Warrants and Amendment of Private Placement
/NOT FOR DISTRIBUTION TO THE UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES/
TORONTO, Oct. 29, 2013 /CNW/ - Parkside Resources Corp. (TSX-V: PKS) (the "Company") is pleased to announce that it intends to extend the exercise period of a total of 8,697,500 outstanding share purchase warrants, all of which are exercisable at $0.20 per share (collectively, the "Warrants"). A portion of the Warrants (800,000) were due to expire on October 29, 2013. The Warrants were issued pursuant to various private placements completed between April 29, 2011 and June 26, 2012, prior to the shares of the Company being listed for trading on the TSX Venture Exchange. The new expiration date of the Warrants is December 31, 2015, and the $0.20 exercise price of the Warrants will remain unchanged. The Warrant extension is subject to the acceptance of the TSX Venture Exchange.
The Company also announced that the terms of the private placement that was disclosed in the news release dated October 24, 2013, have been revised by increasing the number of non-flow-through units from 10,000,000 to 15,000,000 units.
About Parkside Resources Corporation
Parkside Resources Corporation is a Canadian based mineral exploration company dedicated to building shareholder value through focused exploration, discovery and development of high quality precious and base metal projects. The Company has entered into an Option and Joint Venture Agreement with Benton Resources Inc. to explore the Forester Lake Gold Property, and has earned a 60% interest in the Property, which is located approximately 100km north of Pickle Lake, Ontario and roughly 35km southeast of Goldcorp's Musselwhite Gold Mine. Incorporated in 2005, Parkside Resources Corporation is a reporting issuer in the provinces of British Columbia and Alberta, the common shares of which are listed for trading on the TSX Venture Exchange under the symbol TSX-V: PKS.
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 and other Cautionary Information
This release includes certain statements that may be deemed "forward‐looking statements". All statements in this release, other than statements of historical facts that address exploration drilling, exploitation activities and other related events or developments are forward‐looking statements. Although the Company believes the expectations expressed in such forward‐looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward looking statements. Factors that could cause actual results to differ materially from those in forward‐looking statements include market prices, exploration and exploitation successes, continuity of mineralization, uncertainties related to the ability to obtain necessary permits, licenses and title and delays due to third party opposition, changes in government policies regarding mining and natural resource exploration and exploitation, continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward‐looking statements.
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