VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 18, 2012) - Canamex Resources Corp. (TSX VENTURE:CSQ)(OTCQX:CNMXF)(FRANKFURT:CX6) announces that the TSX Venture Exchange (the "Exchange") has consented to the reduction of the exercise price of previously issued warrants to purchase a total of 10,866,000 shares (the "Warrants") to $0.30 per share, and accordingly the exercise price of the Warrants will be reduced to $0.30 for the remainder of the existing two year term of the Warrants. Other than the reduction in the exercise price, all other Warrant provisions will remain the same.
As announced September 11, 2012, the Warrants were originally issued on August 10, 2012 (see News Release dated August 10, 2012). Each Warrant entitles the holder to purchase one common share of the Company for a period of two years from the date of issuance at a price of $0.40 per share in the first year, and thereafter at a price of $0.50 in the second year, subject to an acceleration provision whereby in the event that the weighted average closing price of the Company's shares on the Exchange equals or exceeds $0.75 during any 20 consecutive trading days commencing four (4) months after the date of issuance of the Warrants, then the Company may within 30 days of such an occurrence give notice in writing to the holders of the Warrants that the Warrants shall expire at 5:00 p.m. (Vancouver time) on the 20th business day following delivery of such notice unless exercised by the holders of the Warrants prior to such time.
ON BEHALF OF THE BOARD
Richard Barnett, CFO |