Vancouver, British Columbia--(Newsfile Corp. - June 26, 2019) - Dunnedin Ventures Inc. (TSXV: DVI) (the "Company" or "Dunnedin") announces that it will extend the expiry dates of 8,957,000 outstanding Dunnedin warrants (the "Warrants") by two years as detailed below (Table 1). Approval from the TSX Venture Exchange has been received. The Warrants were originally issued on July 17, 2017 in connection with a private placement of units of the Company (see news releases dated June 20, 2017 and July 20, 2017).
Subsequent to the issue of the Warrants, the Company spun out Solstice Gold Corp ("Solstice") through a statutory plan of arrangement (the "Arrangement") and each Dunnedin warrant held as of the record date of the Arrangement was deemed to have been exchanged for a fully-vested Dunnedin replacement warrant and one-third of one fully-vested Solstice warrant. The exercise prices for the Dunnedin replacement warrants have been adjusted to account for the Arrangement (see news releases dated January 31, 2018 and June 4, 2018). The Warrants continue to be exercisable at their adjusted exercise price and all other terms of the Warrants will remain the same.
Table 1:
|
Number of Dunnedin Warrants |
Adjusted Exercise Price
(post-Arrangement) |
Original Expiry Date |
Amended Expiry Date |
|
8,294,500 |
$0.23 |
July 17, 2019 |
July 17, 2021 |
|
662,500 |
$0.27 |
July 17, 2019 |
July 17, 2021 |
Claudia Tornquist, President and CEO of Dunnedin, said, "We are pleased to extend the expiry dates of these warrants as this will enable our shareholders to participate in the upside from our two upcoming drill programs. We are planning to drill the MPD copper-gold porphyry project this summer and then move on to our Mohave copper porphyry project in Arizona where a drill program is planned later this year."
For further information please contact Mr. Knox Henderson, Investor Relations, at 604-551-2360 or khenderson@dunnedinventures.com.
On behalf of the Board of Directors
Dunnedin Ventures Inc.
Claudia Tornquist
President & CEO
About Dunnedin Ventures Inc.
Dunnedin Ventures is advancing copper porphyry projects in Canada and the USA; and the Kahuna diamond project in Nunavut, Canada. Dunnedin's porphyry assets all present known mineral discoveries with the potential to hold large-scale deposits. They include the Trapper copper-gold porphyry project in the northern Golden Triangle region of British Columbia, the MPD copper-gold porphyry project in the prolific Quesnel Trough in south-central British Columbia and the Mohave copper-molybdenum-silver porphyry project near the world-class Bagdad mine in Arizona.
The advanced-stage Kahuna diamond project in Nunavut hosts a high-grade, near surface inferred diamond resource and numerous kimberlite pipe targets. Dunnedin holds diamond interests in 1,664 km2 of mineral tenure located 26 kilometres from Rankin Inlet and adjacent to Agnico Eagle's Meliadine gold mine. Dunnedin's exploration is aimed at the discovery of diamondiferous kimberlite pipes, working with its advisor and largest shareholder Dr. Chuck Fipke.
Based in Vancouver, Dunnedin is backed by a world-renowned team of exploration experts with decades of combined exploration experience and significant capital market strength. Dunnedin is part of the Discovery Group of companies led by John Robins, one of the most successful mining entrepreneurs in Canada.
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.
Statements included in this announcement, including statements concerning our plans, intentions and expectations, which are not historical in nature are intended to be, and are hereby identified as, "forward-looking statements". Forward-looking statements may be identified by words including "anticipates", "believes", "intends", "estimates", "expects" and similar expressions. The Company cautions readers that forward-looking statements, including without limitation those relating to the Company's future operations and business prospects, are subject to certain risks and uncertainties that could cause actual results to differ materially from those indicated in the forward-looking statements. Accordingly, readers should not place undue reliance on forward-looking statements. Forward-looking statements contained herein are made as of the date of this news release and the Company disclaims any obligation to update any forward-looking statements, except as required by applicable securities laws.
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