Cathedral Gold Corp.: Share Purchase Warrants Extended Up to One Additional Year.VANCOUVER, British Columbia--(BUSINESS WIRE)--Feb. 14, 1997-- CATHEDRAL GOLD CORP.(TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). CAT.) Cathedral Gold Corporation (the "Company") has agreed to extend for up to one additional year the deadline for the exercise of 3,232,000 outstanding share purchase warrants (the "Warrants"), where two Warrants entitle the holder to purchase one common share of the Company at the price of $3.55 per share. The Warrants will now expire on the earlier of February 15, 1998 or 30 days after the tenth day of a period of ten consecutive trading days during which the weighted average trading price Trading price The price at which a security is currently selling. of the Company's common shares exceeds $4.15. The Company has received the approval of more than two-thirds of the warrant holders as required by the warrant indenture and has received the conditional approval of The Toronto Stock Exchange Toronto Stock Exchange (TSE) Canada's largest stock exchange, trading approximately 1,200 company stocks and 33 options. to the extension of the term of the Warrants. The extension of the term of the Warrants is in the best interest of all shareholders as it may provide an efficient method of equity financing Equity Financing The act of raising money for company activities by selling common or preferred stock to individual or institutional investors. In return for the money paid, shareholders receive ownership interests in the corporation. for the Company should the Warrants be exercised over the next year. Cathedral Gold Corporation is a junior gold producing company owning 90 percent of the Sterling Mine, Nevada, where Placer Dome Placer Dome was a large mining company specializing in gold and other precious metals, with corporate headquarters in Vancouver, British Columbia, Canada. Barrick has acquired 100% of the Placer Dome shares on January 20, 2006, and has integrated the company into its own. has an exploration option. Cathedral also owns 100 percent of 3 properties in the Battle Mountain Trend, Nevada, a large exploration project in Guyana, South America South America, fourth largest continent (1991 est. pop. 299,150,000), c.6,880,000 sq mi (17,819,000 sq km), the southern of the two continents of the Western Hemisphere. , and active exploration programs in Honduras and British Columbia. R. Michael Jones, President CONTACT: Cathedral Gold Corporation R. Michael Jones, 604/ 684-4659 |
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