Erdene Announces a Three Month Extension to Warrants
HALIFAX, NOVA SCOTIA--(Marketwired - Nov 3, 2015) - Erdene Resource Development Corp. (TSX:ERD) ("Erdene" or "Company"), announced today that it has agreed to extend the term of all of the common share purchase warrants ("Warrants") that were issued in connection with a non-brokered private placement, which closed in two tranches in June 2015, other than those that were issued to insiders. 3,636,431 of these Warrants expire on December 4, 2015 and 1,208,880 expire on December 12, 2015. Effective November 19, 2015, all 4,845,311 Warrants will have their expiry date extended to March 15, 2016. The exercise price of $0.16 and all other terms of the Warrants remain unchanged.
About Erdene
Erdene Resource Development Corp. is a Canada-based resource company focused on the acquisition, exploration, and development of base and precious metals in underexplored and highly prospective Mongolia. The Company holds four exploration licenses and a mining license located in southwest Mongolia. These include: Altan Nar - an extensive, high-grade, near-surface, gold-polymetallic project that the Company is aggressively advancing toward a production decision, however the Company has not yet completed a mining study to support the technical feasibility and economic viability of Altan Nar; Bayan Khundii - an early-stage, high-grade gold discovery made in Q3-2015; Khuvyn Khar - an early-stage, copper-silver porphyry project with multiple drill targets and significant copper intersections; Zuun Mod - a large molybdenum-copper porphyry deposit; and Altan Arrow - an early-stage, high-grade, gold-silver project. In addition to the above properties, the Company has an Alliance with Teck Resources Ltd. on regional, copper-gold exploration in the prospective Trans Altay region of southwest Mongolia. For further information on the Company, please visit www.erdene.com. Erdene has 97,277,377 issued and outstanding common shares and a fully diluted position of 113,649,988 common shares.
Forward-Looking Statements
Certain information regarding Erdene contained herein may constitute forward-looking statements within the meaning of applicable securities laws. Forward-looking statements may include estimates, plans, expectations, opinions, forecasts, projections, guidance or other statements that are not statements of fact. Although Erdene believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. Erdene cautions that actual performance will be affected by a number of factors, most of which are beyond its control, and that future events and results may vary substantially from what Erdene currently foresees. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration results, continued availability of capital and financing and general economic, market or business conditions. The forward-looking statements are expressly qualified in their entirety by this cautionary statement. The information contained herein is stated as of the current date and is subject to change after that date. The Company does not assume the obligation to revise or update these forward-looking statements, except as may be required under applicable securities laws.
NO REGULATORY AUTHORITY HAS APPROVED OR DISAPPROVED THE CONTENTS OF THIS RELEASE
Contact
Peter C. Akerley
President and CEO
(902) 423-6419
Ken W. MacDonald
Vice President Business Strategy and CFO
(902) 423-6419
info@erdene.com
www.erdene.com
Twitter: https://twitter.com/ErdeneRes