Here is the news release about the warrant acceleration.
Mr. J. Frank Callaghan reports
ACCELERATION OF WARRANT EXPIRY
Barkerville Gold Mines Ltd. has elected to accelerate the expiry date of the remaining 5,177,200 warrants to purchase common shares of the company issued in three separate tranches, on Dec. 23, 2009, Jan. 22, 2010, and Jan. 28, 2010, as part of a private placement of 15,062,500 subscription receipts and 1,996,250 units of the company.
Each warrant entitles the holder to purchase one common share at a price of $1 per share. The warrants were originally set to expire on July 22, 2011, July 28, 2011, and Aug. 1, 2011, and will now expire on July 18, 2011. If all of the warrants are exercised, the company will receive gross proceeds of approximately $5,177,200. The net proceeds of the warrant exercises will be used to finance the company's exploration and development activities and for working capital purposes.
Pursuant to the terms of the certificates governing the warrants, the company has the right to accelerate the expiry date of the warrants in the event that the common shares are trading at or above a volume weighted average price $1.50 for more than 20 consecutive trading days following April 24, 2010, with respect to the warrants issued pursuant to the Dec. 23, 2009, subscription receipt portion of the private placement, May 23, 2010, with respect to the warrants issued pursuant to the Jan. 22, 2010, tranche of the private placement and May 29, 2010, with respect to the warrants issued pursuant to the Jan. 28, 2010, tranche of the private placement. To exercise this right, the company must elect to accelerate the expiry date of the warrants by way of issuing a notice in a form of the news release and mailing a copy of the notice to the addresses of record of the holders of the warrants.
This news release constitutes the notice that the acceleration event has occurred, in that the common shares were trading at or above a volume weighted average price $1.50 for more than 20 consecutive trading days, and the company has elected to accelerate the expiry date of the warrants.
Warrantholders may exercise their rights to acquire common shares by duly completing and executing in the manner indicated the exercise form attached to the warrant certificate representing the warrants before 4 p.m. PST on July 18, 2011, surrendering the warrant certificate to Barkerville Gold Mines, 15th floor, 675 West Hastings St., Vancouver, B.C., V6B 1N2, together with the appropriate purchase price for the common shares subscribed for either by cash, certified cheque or bank draft payable at par in Vancouver, B.C. Warrants that have not been exercised by 4 p.m. PST on July 18, 2011, will expire.