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Golden Chalice warrant amendment

2009-03-17 16:13 ET - Miscellaneous

The TSX Venture Exchange has consented to the reduction in the exercise price of the following warrants.

Private placement

Number of warrants: 1,731,680

Expiry date of warrants: Nov. 13, 2009, and Nov. 19, 2009

Forced exercise provision: If the closing price for the company's shares is 25 cents or greater for a period of 10 consecutive trading days, then the warrantholders will have 30 days to exercise their warrants; otherwise, the warrants will expire on the 31st day.

Original exercise price of warrants: $2

New exercise price of warrants: 20 cents