Amerix Precious Metals Corporation: Acceleration of Warrants Expiration
November 16 2007 - 8:30AM
Marketwired
TORONTO, ONTARIO (TSX VENTURE: APM)(FRANKFURT: NJG) is pleased
to announce that the closing price of the common shares of Amerix
on the TSX Venture Exchange has been greater than $0.45 per share
over a period of ten consecutive trading days and accordingly,
Amerix has elected to accelerate the expiry of the warrants (the
"Warrants") originally issued on April 7, 2006 and as subsequently
amended as announced in a press release dated March 26, 2007.
Holders may exercise the Warrants before 5:00 p.m. (Toronto
time) on December 13, 2007 by completing the subscription form
attached as schedule A to the certificates representing the
Warrants, surrendering the certificates representing the Warrants
and paying an amount equal to the purchase price of the number of
common shares subscribed for, all in accordance with the terms of
the Warrants.
There are currently 3,000,000 Warrants outstanding and if all
the Warrants are exercised, Amerix will receive proceeds of
$1,200,000.
Amerix notes that the 7,545,000 warrants to purchase common
shares of Amerix issued as part of the private placement of units
of Amerix which closed on August 8, 2007 (the "Private Placement")
are also subject to accelerated expiry if, after December 9, 2007,
the closing price of the common shares of Amerix on the TSX Venture
Exchange is greater than $0.45 per common share for ten consecutive
trading days. Each such warrant entitles the holder thereof to
purchase one common share of Amerix at a price of $0.35 at any time
until August 8, 2008. In connection with the Private Placement,
Coniston Investment Corp. ("Coniston") received a broker warrant
(the "Broker Warrant") exercisable for 1,483,000 units
(individually a "Broker Unit") of Amerix. Each Broker Unit is
exercisable for one common share of Amerix and one-half of one
common share purchase warrant (each whole warrant an "Underlying
Warrant") at a price of $0.25 per Broker Unit until August 8, 2008.
The Underlying Warrants are subject to the same terms as the
warrants issued in connection with the Private Placement, including
the acceleration provisions.
About Amerix Precious Metals Corporation
Amerix Precious Metals Corporation is an Ontario corporation
exploring for precious metals in Brazil. Vila Porto Rico and Limao
are gold projects in the Tapajos Gold Province in Brazil. The
common shares of Amerix trade on the TSX Venture Exchange under the
symbol "APM" and at the Frankfurt Stock Exchange under the symbol
"NJG".
Additional information regarding the Corporation, including the
audited consolidated financial statements of Amerix for the
financial year ended July 31, 2006, and related management's
discussion and analysis of results, can be found on SEDAR at
www.sedar.com.
If you would like to receive press releases via email, please
contact jeanny@chfir.com and specify "Amerix press releases" in the
subject line.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
Contacts: Amerix Precious Metals Corporation Lawrence W. Snee
President (303) 668-7216 CHF Investor Relations Jeanny So Broker
Relations Specialist (416) 868-1079 Ext. 225 Email:
jeanny@chfir.com Studer Consulting Marlies E. Studer +41 44 215 28
03 Email: consulting@studer-ir.ch
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