Canabrava Diamond Corporation: Application Made to Extend Term of and Reprice Warrants.Business Editors VANCOUVER, British Columbia--(BUSINESS WIRE)--Nov. 28, 2002 Canabrava Diamond Corporation (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension VENTURE:CNB CNB Czech National Bank CNB Centro Nacional de Biotecnologia CNB City National Bank CNB Citizens National Bank CNB Croatian National Bank CNB Chloronitrobenzene CNB Corresponsales No Bancarios (Spanish, Colombia) ) announced today that it has made application to the TSX Venture Exchange TSX Venture Exchange Originally called the Canadian Venture Exchange (CDNX), this was a result of the merger of the Vancouver and Alberta stock exchanges. The goal of TSX Venture Exchange is to provide venture companies with effective access to capital while protecting investors. to extend the term of the Company's Series A, C, D and E Share Purchase Warrants for one additional year. As announced on September 17, 2002 the Company will also be applying to the Exchange to reduce to $0.30 the exercise price of the Series A, C and E Warrants. If accepted by the Exchange, holders of the: (i) 2,500,000 Series A Share Purchase Warrants and 500,000 Series A Agents' Warrants will be entitled en·ti·tle tr.v. en·ti·tled, en·ti·tling, en·ti·tles 1. To give a name or title to. 2. To furnish with a right or claim to something: to purchase one share before December 27, 2003 at the reduced price of $0.30 per share; (ii) 375,000 Series C Warrants and 30,000 Series C Agents' Warrants will be entitled to purchase one share before December 29, 2003 at the reduced price of $0.30 per share; (iii) 1,080,000 Series D Warrants and 296,000 Series D Agents' Warrants will be entitled to purchase one share at any time up to December 28, 2003 at the original price of $0.30 per share; and (iv) 1,500,000 Series E Warrants and 300,000 Series E Agent's Warrants will be entitled to purchase one share before February 20, 2004 at the reduced price of $0.30 per share. The exercise term of the repriced warrants may be shortened short·en v. short·ened, short·en·ing, short·ens v.tr. 1. To make short or shorter. 2. to a period of 30 days in certain circumstances pursuant to Exchange policies. The application to reprice the warrants is subject to warrantholder approval and Exchange consent, and the Company makes no assurances that the required approval and consent for the repricing Repricing To change the price of an asset. In derivatives, it sometimes refers to the exchange of options of with different strike prices. repricing or extension of the term of the warrants will be granted. Canabrava is also actively exploring for diamonds in Canada and Brazil, both independently and through major joint ventures with Diamonds North Resources Ltd., Kennecott Canada Exploration Inc., Majescor Resources Inc., Navigator See Netscape Navigator, Netscape and Norton Navigator. Navigator - Netscape Navigator Exploration Corp., and Paramount Ventures and Finance Inc. The Company is 36.2% owned by Southwestern Resources Corp. Some of the statements in this news release contain forward-looking information, which involves inherent risk and uncertainty affecting the business of the Company. Actual results may differ materially from those currently anticipated in such statements. The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. |
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