VANCOUVER, July 28, 2016 /CNW/ - Search Minerals
Inc. ("Search" or the "Company") (TSXV: SMY), is pleased to
announce that it will be applying to the TSX Venture Exchange for
approval to the extension of the expiry date for the following
common share purchase warrants to the following dates:
|
Number of
Warrants
|
Exercise
Price
|
Original
Issuance
Date
|
Original
Warrant Term
|
Original
Expiry Date
|
Amended
Warrant Term
|
Amended
Expiry Date
|
|
4,000,000
|
$0.20
|
August 8,
2012
|
2 years (extended for two
years)
|
August 8,
2016
|
Approximately 5
months
|
January 15,
2017
|
|
532,000
|
$0.20
|
August 22,
2012
|
2 years (extended for two
years)
|
August 22,
2016
|
Approximately 5
months
|
January 15,
2017
|
|
8,300,000
|
$0.10
|
August 27,
2014
|
2
years
|
August 27,
2016
|
Approximately 5
months
|
January 15,
2017
|
|
5,960,000
|
$0.10
|
September 8,
2014
|
2
years
|
September 8,
2016
|
Approximately 4
months
|
January 15,
2017
|
|
11,700,000
|
$0.10
|
October 9,
2014
|
2
years
|
October 9,
2016
|
Approximately 3
months
|
January 15,
2017
|
|
7,950,000
|
$0.10
|
July 29,
2015
|
2
years
|
July 29,
2017
|
Approximately 1
month
|
August 17,
2017
|
All other terms of the warrants will remain the same.
About Search:
Search Minerals Inc. is a TSX Venture Exchange listed company
focused on creating value through finding and developing critical
rare earth element ("CREE") mineral assets in Labrador. CREEs (Nd, Pr, Eu, Tb, Dy, Y) have
growing demand, constrained or restricted supply and are commonly
used in innovative technologies.
Search is the discoverer of the Port Hope Simpson CREE District,
a highly prospective CREE belt located in southeast Labrador, where the Company controls a belt 70
km long and up to 8 km wide. Search owns 100% of the advanced CREE
resource called the Foxtrot Project ("Foxtrot"), and a
recently announced Foxtrot-like prospect called "Deepwater Fox". In
addition, the Company has identified more than 20 other
Foxtrot-like prospects in the CREE District. The primary focus of
Search is to continue to advance the Foxtrot resource, while
evaluating other Foxtrot-like prospects. Several of the
Foxtrot-like prospects require exploration drilling programs and
may provide additional resources to a central processing facility
that would be situated within the CREE District.
In addition, Search holds a number of other CREE mineral
prospects in Labrador in its
portfolio including claims in the Red Wine Complex and in the
Henley Harbour area.
Search is led by a management team and board of directors with
proven track records in the mining industry. The Company also has
experienced geological and metallurgical teams led by Dr.
Randy Miller and Dr. David Dreisinger respectively.
All material information on the Company may be found on its
website at searchminerals.ca and on SEDAR at sedar.com.
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 of the adequacy or
accuracy of this release.
Cautionary Statement:
This news release contains forward-looking statements that are
not historical facts. Forward-looking statements involve risks,
uncertainties and other factors that could cause actual results,
performance, prospects, and opportunities to differ materially from
those expressed or implied by such forward- looking statements.
Factors that could cause actual results to differ materially from
these forward- looking statements include those risks set out in
Search's public documents filed on SEDAR at www.sedar.com. Although
Search believes that the assumptions and factors used in preparing
the forward-looking statements are reasonable, undue reliance
should not be placed on these statements, which only apply as of
the date of this news release, and no assurance can be given that
such events will occur in the disclosed time frames or at all.
Except where required by law, Search disclaims any intention or
obligation to update or revise any forward-looking statement,
whether as a result of new information, future events or
otherwise.
SOURCE Search Minerals Inc.