CALGARY, May 24, 2013 /CNW/ - First Mountain Exploration Ltd. (FMX on TSX.V) (the "Company") announces that it has obtained TSX Venture Exchange Inc. (the "Exchange") approval to reprice and extend the expiry date of 3,093,500 share
purchase warrants ("Warrants") of the Company which were issued on December 22, 2011 pursuant to a
brokered private placement of 6,186,000 units. Each unit consisted of
one common share ("Common Share") and one half of one Warrant. The Warrants were initially issued with
an exercise price of $0.65 and had an expiry date of June 24, 2013.
The exercise price of the Warrants has been reduced from $0.65 per
Common Share to $0.20 per Common Share. The expiry date of the Warrants
has been extended from June 24, 2013 to June 23, 2014, however, the
exercise term of the Warrants will be shortened to 30 days if, for a
period of 10 consecutive trading days, the closing price of the
Company's Common Shares on the Exchange exceeds $0.25. The Company will
issue a press release notifying the holders of Warrants if the exercise
term is shortened. All other terms and conditions of the Warrants will
remain the same.
Neither the TSX Venture nor its Regulation Service Provider (as that
term is defined in the policies of the TSX Venture) accepts
responsibility for the adequacy or accuracy of this release.
FORWARD-LOOKING STATEMENTS: The statements made in this press release that are not historical
facts contain forward-looking information that involves risk and
uncertainties. All statements, other than statements of historical
facts, which address the Company's expectations, should be considered
forward-looking statements. Such statements are based on management's
exercise of business judgment as well as assumptions made by and
information currently available to management. When used in this
document, the words "may", "will", "anticipate", "believe", "estimate",
"expect", "intend" and words of similar import, are intended to
identify any forward-looking statements. You should not place undue
reliance on these forward-looking statements. These statements reflect
a current view of future events and are subject to certain risks and
uncertainties as contained in the Company's filings with Canadian
securities regulatory authorities. Should one or more of these risks or
uncertainties materialize, or should underlying assumptions prove
incorrect, actual results could differ materially from those
anticipated in these forward-looking statements. These forward-looking
statements are made as of the date of this press release and, other
than as required by applicable securities laws, the Company does not
assume any obligation to update or revise them to reflect new events or
circumstances. Although management believes that expectations are based
on reasonable assumptions, no assurance can be given that these
expectations will materialize.
SOURCE: First Mountain Exploration Ltd.
For further information:
President, Chief Executive Officer and Director
First Mountain Exploration Ltd.
Telephone: (403) 453-2266