PMI Gold Corporation - Repricing of warrants



    
    /THIS NEWS RELEASE IS NOT FOR DISTRIBUTION IN THE UNITED STATES OR TO
    U.S. NEWS AGENCIES/

    TSX Venture Exchange: PMV
    US PMVGF.PK
    Frankfurt: AOJMW7
    Issued & Outstanding: 118,917,570
    Fully Diluted: 168,963,821

    VANCOUVER, June 16 /CNW/ - PMI Gold Corporation (TSX.V: PMV), is pleased
to announce that the Company has received TSX Venture Exchange approval to the
repricing of the following share purchase warrants:

    -   3,769,855 share purchase warrants originally exercisable at a price
        of $0.45 per warrant share until July 30, 2009. The new exercise
        price is $0.10 per warrant share.
    -   519,213 share purchase warrants originally exercisable at a price of
        $0.45 per warrant share until March 10, 2010. The new exercise price
        is $0.10 per warrant share.
    -   2,662,500 share purchase warrants originally exercisable at a price
        of $0.30 per warrant share until August 28, 2010. The new exercise
        price is $0.10 per warrant share.
    

    All of the above warrants have a forced exercise provision. If the
closing price of the Company's shares is $0.12 or greater for a period of 10
consecutive trading days, then the warrantholders will have 30 days to
exercise their warrants, otherwise the warrants will expire on the 31st day.
    In addition the Company announces that it will not be proceeding with the
private placement of up to US$20 million in Senior Convertible Promissory
Notes (the "Notes") announced on February 19th, 2009. The placement was
terminated at the Company's request.

    On behalf of the Board,
    "Douglas R. MacQuarrie"
    President & CEO

    
    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.
    

    This news release contains forward-looking statements which involve known
and unknown risks, delays and uncertainties not under the Company's control
which may cause actual results, performance or achievements of the Company to
be materially different from the results, performance or expectations implied
by these forward-looking statements. We Seek Safe Harbour.

    %SEDAR: 00005434E




For further information:

For further information: Douglas MacQuarrie, President & CEO, Telephone:
(604) 682-8089, Toll-Free: (888) 682-8089, Facsimile: (604) 682-8094 or for
European Investors: Florian Riedl-Riedenstein: Tel: 43-2774-28814, e-mail:
frram@aon.at or John Mullen: Tel: 41-79-694-8671, e-mail: John
Mullen@bluewin.ch Or visit the PMI Gold Corporation website at
www.pmigoldcorp.com

Organization Profile

PMI Gold Corporation

More on this organization


Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890