Abacus Announces Warrant Extension
October 29 2021 - 6:44PM
Abacus Mining & Exploration Corporation (“Abacus” or the
“Company”) (TSXV: AME) announces that the Company has applied to
extend the exercise period of a total of 4,872,000 share purchase
warrants, all of which are exercisable at $0.20 per share
(collectively, the "Warrants"). The Warrants were issued pursuant
to a private placement which closed November 23, 2018. The Company
proposes to extend the expiry date for all these Warrants by one
(1) additional year, and accordingly, the new expiry date for the
Warrants will be November 23, 2022. All other terms and conditions
of the Warrants remain unchanged. The Warrant extension is subject
to acceptance by the TSX Venture Exchange.
On Behalf of the Board,ABACUS MINING & EXPLORATION
CORPORATION
Paul G. Anderson, P.Geo.President and CEO
About Abacus
Abacus is a mineral exploration and mine
development company currently focused on copper and gold in B.C.
and Nevada. The Company’s main asset is a 20% ownership interest,
together with KGHM Polska Miedź S.A. (80%), in the proposed
copper-gold Ajax Mine located southwest of Kamloops, B.C., which
has undergone a joint provincial and federal environmental
assessment process. On December 14, 2017, a decision was made by
the B.C. Minister of Environment and Climate Change Strategy and
the Minister of Energy, Mines and Petroleum resources to decline to
issue an environmental assessment certificate for the Project. KGHM
have recently reopened an office in Kamloops, B.C. to facilitate
First Nation, community and governmental engagement in order to
advance the project towards a potential resubmission of the
environmental application.
Abacus also holds an option on the Willow
copper-gold property located near Yerington, Nevada in which it can
acquire up to a 75% ownership interest, and the contiguous
Nev-Lorraine claims subject to a ten-year lease agreement.
For the latest reports and information on
Abacus’ projects, please refer to the Company’s website at
www.amemining.com.
Forward-Looking InformationThis
release includes certain statements that are deemed
“forward-looking statements”. All statements in this release, other
than statements of historical facts, that address events or
developments that Abacus expects to occur, are forward-looking
statements. Forward-looking statements are statements that are not
historical facts and are generally, but not always, identified by
the words “expects”, “plans”, “anticipates”, “believes”, “intends”,
“estimates”, “projects”, “potential” and similar expressions, or
that events or conditions “will”, “would”, “may”, “could” or
“should” occur. Forward looking statements in this release include
the Company’s expectation that the TSX Venture Exchange will accept
its application to extend the term of the warrants issued on
November 23, 2018 by an additional one year. Although the Company
believes the expectations expressed in such forward-looking
statements are based on reasonable assumptions, such statements are
not guarantees of future performance and actual results may differ
materially from those in the forward-looking statements. Factors
that could cause the actual results to differ materially from those
in forward-looking statements include changes to commodity prices,
mine and metallurgical recovery, operating and capital costs,
foreign exchange rates, ability to obtain required permits on a
timely basis, exploitation and exploration successes, continued
availability of capital and financing, and general economic, market
or business conditions. Investors are cautioned that any such
statements are not guarantees of future performance and actual
results or developments may differ materially from those projected
in the forward-looking statements. Forward-looking statements are
based on the beliefs, estimates and opinions of the Company's
management on the date the statements are made. Except as required
by applicable securities laws, the Company undertakes no obligation
to update these forward-looking statements in the event that
management's beliefs, estimates or opinions, or other factors,
should change.
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.
Tel: 604.682.0301
email: info@amemining.com
website: www.amemining.com
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