VANCOUVER, BRITISH COLUMBIA (August 11, 2009) – Premium Exploration Inc. (TSX-V:PEM) (?Premium? or the ?Company?) announces that it has made an application to the TSX Venture Exchange to amend the term of the warrants issued by the Company in conjunction with its private placement announced July 28, 2008.
The proposed amendment would extend, by forty-five days (45), the time available to exercise the Year-1 $0.50 warrants; 3,400,166 warrants were originally issued on August 26, 2008 and were exercisable for a two year period at $0.50 per share in Year 1 (until August 26, 2009) and $0.75 in Year-2 (until August 26, 2010).
The Year-1 pricing of $0.50 amended warrants will expire on October 10, 2009, rather than August 26, 2009 and the Year-2 year warrants will be exercisable at $0.75 from October 11, 2009 through August 26, 2010.
The warrant amendment is subject to TSX-V approval.
About Premium Exploration Inc.
Premium Exploration Inc. (TSX-V:PEM) is an explorer and developer of precious metals projects with significant potential for near-term production and growth. Our projects are located in the USA and Mexico; stable regions where we have a history of success. Our team is committed to unlocking mineral wealth for our shareholders by discovering, developing, and permitting precious metals assets to production. The Company?s portfolio includes one of the largest land packages in Idaho, including an NI 43-101 gold resource, a PGM exploration project in Montana, and a past-producing silver project in Mexico. For additional information, please visit us at www.premiumexploration.com.
For More Information, Please Contact:
|
Mr. Wilf Struck, P.Eng Chief Executive Officer Premium Exploration Inc. P: (604) 682-0243 F: (604) 682-2499 Email: wstruck@premiumexploration.com |
Christine Kopr Corporate Communications Opes Communications P: (604) 682-0243 F: (604) 682-2499 Email: christinekopr@opescommunications.com |
This press release contains certain ?Forward-Looking Statements? within the meaning of Section 21E of the United States Security Exchange Act of 1934, and involves a number of risks and uncertainties. Important factors that could cause actual results to differ materially from the Company?s expectations are disclosed in the Company?s documents filed from time to time with the TSX Venture Exchange and the British Columbia Securities Commission. All statements, other than of historical fact, included herein are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. 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.