Calibre to Amend Warrants
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Apr 29, 2014) - Calibre Mining Corp. (TSX VENTURE:CXB) (the "Company" or "Calibre") announces that it has applied to the TSX Venture Exchange (the "Exchange") for approval to amend the terms of 10 million common share purchase warrants (the "Warrants") of the Company held by B2Gold Corp. ("B2Gold"). The Warrants were originally issued to B2Gold pursuant to a non-brokered private placement of 20 million units at a price of $0.25 per unit, which closed on May 2, 2012. Each unit consisted of one common share and one-half of one Warrant, with each Warrant entitling B2Gold to purchase an additional common share of the Company until May 2, 2013 at an exercise price of $0.50. The Warrants were previously amended by extending the term by one additional year from May 2, 2013 to May 2, 2014 and by reducing the exercise price from $0.50 to $0.10.
Pursuant to the amendments, the term of the Warrants will be further extended by three months from May 2, 2014 to August 2, 2014 (the "Amended Expiry Date") and the exercise price will be further reduced from $0.10 to $0.05 (the "Amended Exercise Price").
If during the term of the amended Warrants, the closing price of the Company's common shares on the Exchange exceeds $0.0625 during a period of 10 consecutive trading days, then the Amended Expiry Date will be deemed to be automatically accelerated as a result of which the amended Warrants will expire on the earlier of the 37th calendar day following the tenth trading day and the Amended Expiry Date. All other terms and conditions of the Warrants will remain unchanged.
Exchange approval for the amendments will be evidenced by a bulletin which the Company expects to be issued on April 29, 2014.
About Calibre Mining Corp.
Calibre controls a 100% interest in 429 km2 of mineral concessions and additionally, Calibre has joint venture exploration programs underway with B2Gold Corp. on 322.3 km2 of concessions which include the Primavera gold-copper porphyry discovery and Alder Resources Ltd. on the 33.6 km2 Rosita gold-copper-silver project. Major shareholders of Calibre include gold producer B2Gold Corp.
Greg Smith, P.Geo., President and CEO
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
