Coronation Minerals Inc. to extend term of warrants

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[{"type":"text","content":"\n\n\n\nTORONTO, July 9 /CNW/ - Coronation Minerals Inc. (TSX VENTURE: CMV) (the\n"Company") announces that it has made an application to the TSX Venture\nExchange (the "TSXV") to extend the term of its Series 2008-I and Series\n2008-II warrants to June 30, 2011.\n\n\n21,620,277 Series 2008-I warrants were originally issued in June 2008 and\nare exercisable at $0.30 per share until 5:00 p.m. (Toronto time) on the date\nwhich is the earlier of: (i) December 5, 2009, and (ii) if the closing price\nof the common shares for any 20 consecutive trading days exceeds $0.50, the\ndate which is the later of (A) 30 days following the date of mailing of\nwritten notice of the accelerated expiry date to holders of the warrants; and\n(B) 30 days following the date a press release is issued by the Company\nannouncing the accelerated expiry date.\n\n\n7,042,388 Series 2008-II warrants were originally issued on June 27, 2008\nand are exercisable at $0.30 per share until 5:00 p.m. (Toronto time) on the\ndate which is the earlier of: (i) December 27, 2009, and (ii) if the closing\nprice of the common shares for any 20 consecutive trading days exceeds $0.50,\nthe date which is the later of (A) 30 days following the date of mailing of\nwritten notice of the accelerated expiry time to the holders of the warrants;\nand (B) 30 days following the date a press release is issued by the Company\nannouncing the accelerated expiry time.\n\n\nThe amended warrants will expire at 5:00 p.m. (Toronto time) on June 30,\n2011, provided that if the closing price of the common shares for any 20\nconsecutive trading days exceeds $0.50, the Company may accelerate the expiry\ntime to the date which is the later of (A) 30 days following the date of\nmailing of written notice of the accelerated expiry time to the holders, and\n(B) 30 days following the date a press release is issued by the Company\nannouncing the accelerated expiry time. The exercise price for both series of\nwarrants will remain the same.\n\n\nThe warrant amendments have been approved by the board of directors of\nthe Company but in the case of the Series 2008-I warrants, the warrant\namendment remains subject to warrantholder approval.\n\n\nThe warrant amendments are also subject to TSXV approval.\n\n\nAbout Coronation Minerals Inc.\n------------------------------\n\n\nCoronation Min...

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