Oremex Silver Announces Application to Extend Warrants
December 19 2011 - 4:31PM
Marketwired
Oremex Silver Inc. ("Oremex" or the "Corporation") (TSX
VENTURE:OAG)(OTCQX:ORAGF)(FRANKFURT:OSI) announces that it has made
an application to the TSX Venture Exchange ("TSX-V") to extend the
expiry date of 702,385 outstanding common share purchase warrants
of the Corporation (the "Warrants") from December 22, 2011 to
December 22, 2012 with all other terms and conditions of the
Warrants remaining the same. Each Warrant is exercisable to
purchase one common share of the Corporation at a price of $0.17
per common share for a period of two years.
The Warrants were originally issued in connection with the
private placement (the "Private Placement") of 3,472,616 units (the
"Units"), with each Unit being comprised of one common share of the
Corporation and one-half of one common share purchase warrant. The
completion of the Private Placement was first announced on December
22, 2009.
About Oremex
Oremex is a Canadian-based exploration company with a focus on
the acquisition and development of mineral properties in Mexico.
The Corporation's most advanced project Tejamen has an inferred
mineral resource of 50.8 million ounces of silver in a total of
22.6 million tonnes grading a silver-equivalent of 69.8 grams per
tonne (Wardrop Engineering Report NI 43-101 compliant April 2006).
Snowden Mining Industry Consultants completed a Preliminary
Assessment Study (NI 43-101 compliant October 2006) demonstrating
that the project can support a 10,000 tonne per day open pit, heap
leach mining operation.
National Instrument 43-101 requires the following statement:
that the preliminary assessment is preliminary in nature, that it
includes inferred mineral resources that are considered too
speculative geologically to have the economic considerations
applied to them that would enable them to be categorized as mineral
reserves, and there is no certainty that the preliminary assessment
will be realized.
Cautionary Note Regarding Forward-Looking Statements
Certain statements contained in this news release may constitute
forward-looking information, (collectively "forward-looking
information") within the meaning of Canadian securities laws.
Forward-looking information may relate to this news release and
other matters identified in Oremex' public filings, anticipated
events or results and can be identified by terminology such as
"may", "will", "could", "should", "expect", "plan", "anticipate",
"believe", "intend", "estimate", "projects", "predict",
"potential", "continue" or other similar expressions concerning
matters that are not historical facts and include, but are not
limited in any manner to, those with respect to capital and
operating expenditures, economic conditions, availability of
sufficient financing, receipt of approvals, satisfaction of closing
conditions and any and all other timing, development, operational,
financial, economic, legal, regulatory and/or political factors
that may influence future events or conditions. Such
forward-looking statements are based on a number of material
factors and assumptions, including, but not limited in any manner,
those disclosed in any other public filings of Oremex, and include
the ultimate availability and final receipt of required approvals,
sufficient working capital for development and operations, access
to adequate services and supplies, availability of markets for
products, commodity prices, foreign currency exchange rates,
interest rates, access to capital markets and other sources of
financing and associated cost of funds, availability of a qualified
work force, availability of manufacturing equipment, no material
changes to the tax and regulatory regime and the ultimate ability
execute its business plan on economically favourable terms. While
we consider these assumptions to be reasonable based on information
currently available to us, they may prove to be incorrect. Actual
results may vary from such forward-looking information for a
variety of reasons, including but not limited to risks and
uncertainties disclosed in other Oremex filings at www.sedar.com
and other unforeseen events or circumstances. Other than as
required by law, Oremex does not intend, and undertakes no
obligation, to update any forward looking information to reflect,
among other things, new information or future events. Neither the
TSX-V nor its Regulation Service Provider (as that term is defined
in the policies of the TSX-V) accepts responsibility for the
adequacy or accuracy of this release.
Contacts: Oremex Silver Inc. Christian Scovenna +1
416.309.4321info@oremexsilver.comwww.oremexsilver.com
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