Fortune River Notifies Warrant Holders to Purchase Common Shares
May 27 2010 - 6:27PM
Marketwired
Fortune River Resource Corp. (the "Company") (TSX VENTURE:
FRX)(FRANKFURT: RG7A) reports that it has given notice to the
holders ("Holders") of non-transferable common share purchase
warrants (the "Warrants") of the Company dated April 28, 2008 (and
amended on February 11, 2009 and April 13, 2010) of the
acceleration of the expiry date of the Warrants to July 2, 2010.
The original Warrant exercise price of $0.40 per share was
previously amended to $0.10 per share and the original Warrant
expiry date of April 28, 2010 was previously amended to April 28,
2011.
The Notices to Holders of Warrants dated February 11, 2009 and
April 13, 2010 provide that in the event that the closing price of
the Company's common shares on the TSX Venture Exchange is $0.135
or more for ten consecutive trading days (the tenth such trading
day being the "Determination"), the expiry date of the Warrants
will be accelerated to the thirty seventh calendar day following
the Determination (the "Accelerated Expiry Date"). The Company will
forthwith on the Determination immediately notify the Holder of
Warrants of the Accelerated Expiry Date. All Warrants not exercised
by the expiration of the Accelerated Expiry Date shall be deemed
cancelled without further notice to the Holder.
The Company's shares have traded at a closing price of $0.135 or
more per share for a period of ten consecutive trading days for the
period beginning May 12, 2010 and ending ten consecutive trading
days thereafter, namely May 26, 2010. Notice has been given that
the Company accelerates the date upon which the Warrants will
expire from April 28, 2011 to July 2, 2010 after which time the
Warrants will be void and of no value.
On behalf of the Board of Directors
Joseph A. Kizis, Jr., President and Director
Fortune River Resource Corp.
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.
Contacts: Fortune River Resource Corp. Jeff Stuart
1.888.456.1112 or 604.641.2771 jstuart@mnxltd.com Fortune River
Resource Corp. Liana Shahinian 1.888.456.1112 or 604.641.2771
www.fortuneriver.ca
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