Stroud Announces Reduction in Exercise Price of Warrants
April 18 2008 - 4:30PM
Marketwired
TORONTO, ONTARIO ("Stroud") announced today that it has received
the consent of the TSX Venture Exchange to the reduction in the
exercise price of warrants issued by the company pursuant to a
private placement completed on May 4, 2006. The exercise price of
5,695,278 warrants has been reduced from the original exercise
price of $0.30 per share to $0.15 per share with the original
expiry date of May 4, 2008 still being applicable. Insiders of
Stroud hold 7,138,056 warrants and in accordance with the policies
of the TSX Venture Exchange, the re-pricing will only be applicable
to 1,166,666 of such warrants, being 10% of the 11,666,667 warrants
outstanding. The re-priced warrants held by insiders may be
exercised on a pro-rata basis.
Stroud is a debt-free exploration company focused on the
discovery and exploration of silver and gold deposits in Mexico and
Ontario. Stroud owns a 100% interest in the Santo Domingo
epithermal silver-gold project in central Mexico. In addition to
the Santo Domingo project, Stroud's assets include 100% interests
in the Hislop gold property, near Timmins, Ontario and the Leckie
gold property, near North Bay, Ontario. Stroud also generates cash
flow from a 3.75% interest in six natural gas, and natural gas
condensate wells in central Alberta.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this news
release.
Contacts: Stroud Resources Ltd. Mr. George Coburn President and
CEO (416) 362-4126 Website: www.stroudresourcesltd.com
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