Goldstrike Retains Star Finance / Applies for Warrant Extension
VANCOUVER, BRITISH COLUMBIA--(Marketwired - May 25, 2016) - GoldStrike Resources Ltd. (TSX VENTURE:GSR)(OTC PINK:APRAF)(FRANKFURT:KCG1) has entered into an agreement with Star Finance GmbH for European investor relations and corporate communications services.
Goldstrike has a significant institutional European shareholder base and trades on the Frankfurt Stock Exchange. Star Finance (www.star-finance.eu) will be responsible for the enhancement of the Company's profile in the European investment community, focusing primarily on Germany, Switzerland and Austria. Star Finance previously provided investor relations service for the Company in Europe during 2013 and early 2014.
Star Finance is a Swiss company owned by Michael Adams, with offices in Steinhausen, Switzerland and Cologne, Germany. For its services, Star Finance will receive a payment of $2,000 (Canadian funds) per month, to be funded from general working capital. Star Finance has advised the Company that it holds 36,000 shares of the Company and warrants exercisable to purchase an additional 144,000 shares of the Company for $0.15 each, all of which were issued by the Company pursuant to the Plan of Arrangement (the "Arrangement") which completed on February 29, 2016, in exchange for shares and warrants of Petro One Energy Corp. held by Star Finance at that time. Star Finance has advised that it does not hold any other direct or indirect interest in the Company or its securities, or any right to acquire any such an interest. The arrangement with Star Finance is subject to acceptance by the TSX Venture Exchange (the "Exchange"). The arrangement will have a twelve month term commencing following receipt of notice of such acceptance, but may be cancelled at any time after the first three months.
The Company is also applying to the Exchange for consent to extend the exercise term of 1,307,679 outstanding share purchase warrants from June 15, 2016 to October 7, 2016.
On June 15, 2012, the Company distributed 2,615,358 units at the price of $0.35 per unit (each a "Unit"). Each Unit was comprised of one common share and one-half of a share purchase warrant, with each whole warrant (a "Warrant") exercisable to purchase one additional share for $0.80 until June 15, 2014. The exercise term of the Warrants was subsequently extended to June 15, 2016 and the exercise price of the Warrants was reduced to $0.15 on February 29, 2016, pursuant to the Arrangement. Accordingly, each of such Warrants is currently exercisable to purchase one common share for $0.15 at any time prior to 4:30 p.m. on June 15, 2016 subject to an accelerated expiry if the average closing price of the Company's shares is $0.1875 or higher for 10 consecutive trading days.
The Company now intends to apply to the Exchange for consent to extend the exercise term of the Warrants to October 7, 2016, to match the exercise terms of other Company warrants which were extended pursuant to the Arrangement. The Company will not be seeking a reduction of the exercise price of any Warrants. The proposed amendment to the Warrant exercise term is subject to acceptance by the Exchange.
ON BEHALF OF THE BOARD
Terrence E. King, President and Chief Executive Officer
For further information, please visit Goldstrike's website at GoldstrikeResources.com, follow the Company's tweets at Twitter.com/GoldstrikeRes and contact Jeff Stuart of King James Capital Corporation, handling Investor Relations for the Company, by telephone at (604) 805-0375 or by email at jstuart@kingjamescapital.com.
Neither 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.
Contact
GoldStrike Resources Ltd.
604 681 1820
604 681 1864
IR: 604 805 0375
www.GoldStrikeResources.com
www.Twitter.com/GoldstrikeRes
King James Capital Corporation
Jeff Stuart
Investor Relations
(604) 805 0375
jstuart@kingjamescapital.com
