NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE U.S.
TORONTO, Nov. 26, 2012 /CNW/ - Guyana Precious Metals Inc. (TSX-V:GPM) ("GPM") announces that it will make an application to the TSX Venture Exchange (the "TSXV") to amend the terms of its Series 2010-I warrants in order to (i) extend the expiry date of such warrants to December 10, 2013; and (ii) amend the exercise price to $0.45 per share. An aggregate of 70,000,000 Series 2010-I warrants were originally issued in December 2010 (prior to giving effect to the two-for-one share consolidation of GPM on July 27, 2011), and are currently exercisable at $0.26 per share until 5:00 p.m. (Toronto time) on December 10, 2012.
The warrant amendments have been approved by the board of directors of GPM. The warrant amendments remain subject to TSXV approval.
GPM is led by an experienced management team with demonstrable project generation and development talents in Guyana. The Company is presently expanding the exploration and development of its Aremu and Peters Mine gold properties; two of the four historical past gold producers in Guyana. GPM maintains an interest in acquiring additional key mineral exploration and development properties in the country of Guyana.
Neither 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 - Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of Guyana, including, but not limited to the impact of general economic conditions, industry conditions, dependence upon regulatory approvals, the availability of financing and exploration risk. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements.
SOURCE: Guyana Precious Metals Inc.
For further information:
Guyana Precious Metals Inc.
141 Adelaide Street West
Toronto, Ontario M5H 3L5
Attn: John Patrick Sheridan
Tel: (416) 864-6332
Fax: (416) 628-6835