Mr. Brent Johnson reports
AMENDMENT OF CERTAIN OUTSTANDING WARRANTS
Mountainstar Gold Inc. has
amended the terms of certain outstanding share purchase warrants.
On Oct. 23, 2012, Mountainstar closed the first tranche of a private
placement initially announced on Oct. 16, 2012, and issued
429,000 units at the price of 25 cents per unit to various private placees.
Each unit issued to the private placees comprised one share and one
share purchase warrant. The exercise price of the share purchase warrants
issued to the private placees was 52 cents per share for a period of two years
ending Oct. 23, 2014. Thus, the current exercise price of those warrants
is 52 cents. The closing trading price on Oct. 23, 2012, being the date of
the closing of the first tranche of the private placement, was 20 cents, and the
trading price on the trading day immediately prior to the closing of the
first tranche of the private placement -- that is, Oct. 22, 2012 -- was
24 cents. The last closing price prior to the date of this news release was
six cents, which was the closing price on Sept. 9, 2014.
The first tranche of the private placement, which closed on Oct. 23, 2012,
did not involve any insiders.
The term of all the warrants issued to the private placees in the first
tranche has been extended one year, with the result that the warrants
described above in the first tranche and issued to the private placees will
now expire on Oct. 23, 2015. For further certainty, the exercise price
of the warrants has not been reduced.
All other terms of the above-described share purchase warrants remain
unaltered.
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