Wellgreen Platinum Announces 2015 AGM Date and Warrant Amendments
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jun 18, 2015) - Wellgreen Platinum Ltd. (WG.TO)(WGPLF) announces that it will hold its 2015 annual general and special meeting (the "2015 AGM") on Friday, September 25, 2015 at 10 a.m. (EST) in Toronto, Ontario. The Company will in due course send meeting materials to its shareholders of record as of August 10, 2015 by way of Notice and Access.
In addition, the Company announces that it has received conditional approval from the Toronto Stock Exchange (the "TSX") to amend certain terms of 8,086,264 common share purchase warrants (the "Warrants") that were originally issued by the Company on June 20, 2013 and that are each exercisable for one common share of the Company. The expiry date of the Warrants will be amended such that the Warrants will expire on June 21, 2017 (the original expiry date of the Warrants was June 21, 2015), and the exercise price of the Warrants will be amended to $0.60 (the original exercise price of the Warrants was $0.90). An accelerator provision will also be added to the Warrants that will provide the Company with the right to accelerate the expiry of the Warrants to a date that is not less than 30 days following delivery of written notice by the Company to the holders of the Warrants, if the closing price of the Company's common shares on the TSX equals or exceeds $0.90 for a period of 10 consecutive trading days.
Of the 8,086,264 Warrants, a total of 2,750,925 Warrants are held by insiders of Wellgreen Platinum. In accordance with the rules and policies of the TSX, the amendments with respect to Warrants held by insiders will only become effective if disinterested shareholder approval of the amendments is received at the 2015 AGM. The amendments relating to Warrants held by non-insiders are expected to become effective on July 3, 2015, 10 business days following the date of this news release in accordance with the rules and policies of the TSX.
About Wellgreen Platinum
Wellgreen Platinum Ltd. is a Canadian mining exploration & development company focused on the active advancement of its 100% owned Wellgreen PGM and Nickel project toward production. Located in the Yukon Territory, Canada, the Wellgreen project has the potential, in management's view, to become one of the world's largest and lowest cost open pit producers of platinum group metals (PGMs) and nickel. The Wellgreen property is accessed from the paved Alaska Highway leading to deep sea ports south of the project in Alaska.
The Company is led by an experienced management team with a track record of value creation through successful large scale project discovery, development, operation and financing. To achieve our vision of developing into a global producer of PGMs and nickel, our primary strategy is to continue to advance the Wellgreen project towards feasibility and production.
Cautionary Note Regarding Forward Looking Information: This news release includes certain information that may be deemed "forward-looking information". Forward-looking information can generally be identified by the use of forward-looking terminology such as "may", "will", "expect", "intend", "estimate", "anticipate", "believe", "continue", "plans" or similar terminology, or negative connotations thereof. All information in this release, other than information of historical facts, including, without limitation, regarding implementation of the contemplated Warrant amendments, receipt of disinterested shareholder approval for the amendments to the Warrants held by insiders of the Company, the effective dates of the Warrant amendments, future exploration and development potential of the Wellgreen project or any of the Company's other projects, and general future plans and objectives for the Company and the Wellgreen project, and the timing thereof, are forward-looking information that involve various risks and uncertainties. Although the Company believes that the expectations expressed in such forward-looking information are based on reasonable assumptions, such expectations are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking information. Forward-looking information is based on a number of material factors and assumptions.
Factors that could cause actual results to differ materially from the forward-looking information include changes in project parameters as plans continue to be refined, future metal prices, availability of capital and financing on acceptable terms, general economic, market or business conditions, uninsured risks, regulatory changes, defects in title, availability of personnel, materials and equipment on a timely basis, accidents or equipment breakdowns, delays in receiving government approvals, the Company's ability to maintain the support of stakeholders necessary to develop the Wellgreen project, unanticipated environmental impacts on operations and costs to remedy same, and other risks detailed herein and from time to time in the filings made by the Company with securities regulatory authorities in Canada. Mineral exploration and development of mines is an inherently risky business. Accordingly, actual events may differ materially from those projected in the forward-looking information. For more information on the Company and the key assumptions, risks and challenges with respect to the forward looking information discussed herein and of our business in general, investors should review our most recently filed technical report on the Wellgreen project, our most recently filed annual information form, and other continuous disclosure filings which are available at www.sedar.com. Readers are cautioned not to place undue reliance on forward-looking information. The Company does not undertake to update any forward looking information, except in accordance with applicable securities laws.
