Penbar Capital Ltd V.PEM

RE: RE: RE: RE: RE: RE: Playing games

[whaler]

Drfill

What adds to this is why only a 45 days extension? Those Year one guy especially. Heck most times I have seen extensions, they simply go another yr tacked on the last expiry date.

So this tells me they have given or set a much shorter time frame to see exercise. They look to be saying we need that money from exercise now ( 45 days) and we also see/expect you guys being in the money on these and as such exercising?

Premium Exploration Amends Term of Warrants

PREMIUM EXPLORATION INC PEM

8/11/2009 1:10:00 PM

(via Thenewswire.ca)

VANCOUVER, BRITISH COLUMBIA (August 11, 2009) - Premium Exploration Inc., (TSX-V:PEM) ("Premium" or the "Company") announces that it has made an application to the TSX Venture Exchange to amend the term of the warrants issued by the Company in conjunction with its private announced July 28, 2008.

The proposed amendment would extend, by forty-five days (45), the time available to exercise the Year-1 $0.50 warrants; 3,400,166 warrants were originally issued on August 26, 2008 and were exercisable for a two year period at $0.50 per share in Year-1 (until August 26, 2009) and $0.75 in Year-2 (until August 26, 2010).

The Year-1 pricing of the $0.50 amended warrants will expire on October 10, 2009, rather than August 26, 2009 and the Year-2 year warrants will be exercisable at $0.75 from October 11, 2009 through August 26, 2010.

The warrant amendment is subject to TSX-V approval.