WestKam Announces Warrant Repricing
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jul 10, 2015) - WestKam Gold Corp. (TSX VENTURE:WKG) (the "Company" or "WestKam") has applied to the TSX Venture Exchange to amend the exercise price of a total of 13,115,000 outstanding non-transferable Common Share Purchase Warrants (the "Warrants") issued pursuant to a private placement in July 2013. The original exercise price was as follows: Year 1: Units: $0.10 Flow-Through Units $0.10 Year 2: Units: $0.10 Flow-Through Units $0.10 Year 3: Units: $0.10 Flow-Through Units $0.10 Year 4: Units: $0.10 Flow-Through Units $0.20 Year 5: Units: $0.10 Flow-Through Units $0.20. The amended exercise price will be $0.05 for all Warrants issued.
The Company currently has 13,626,500 warrants issued and outstanding pertaining to the private placement, of which only 13,115,000 are eligible for amendment pursuant to the policies of the TSX Venture Exchange. The remaining 811,500 Warrants are not eligible for amendment as such Warrants were issued as Broker's Warrants under the private placement. Insiders hold less than 10% of the total number of warrants issued pursuant to the private placement.
The proposed amendments to the Warrants is subject to acceptance by the TSX Venture Exchange.
About WestKam Gold Corp.
WestKam is a Canadian gold exploration company focused on developing the Bonaparte Gold Project near Kamloops, British Columbia. Additional information can be found on the Company's website at www.westkamgold.com.
ON BEHALF OF THE BOARD OF DIRECTORS
Matt Wayrynen, President
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the
TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-looking information
All statements included in this press release that address activities, events or developments that the Company expects, believes or anticipates will or may occur in the future are forward-looking statements. In particular, this news release contains forward-looking information regarding the Offering and the use of proceeds of the Offering. These forward-looking statements involve numerous assumptions made by the Company based on its experience, perception of historical trends, current conditions, expected future developments and other factors it believes are appropriate in the circumstances. These assumptions include, but are not limited to: TSXV acceptance of the Offering; future costs and expenses being based on historical costs and expenses, adjusted for inflation; and market demand for, and market acceptance of, the Offering. In addition, these statements involve substantial known and unknown risks and uncertainties that contribute to the possibility that the predictions, forecasts, projections and other forward-looking statements will prove inaccurate, certain of which are beyond the Company's control. Readers should not place undue reliance on forward-looking statements. Except as required by law, the Company does not intend to revise or update these forward-looking statements after the date hereof or revise them to reflect the occurrence of future unanticipated events.