VANCOUVER, British Columbia, Sept. 29, 2022 (GLOBE NEWSWIRE) -- Almadex Minerals Ltd. ("Almadex" or the "Company") (TSX-V: “DEX”) announces that, subject to required approval from the TSXV Venture Exchange, the Company will extend the expiry date of a total of 5,400,000 outstanding common share purchase warrants (the “Warrants”).
The Warrants were issued pursuant to a private placement of 5,400,000 units at a price of C$0.25 per unit on October 16 th , 2020. Each unit consisted of one common share and one Warrant, with each Warrant entitling the holder thereof to purchase an additional common share of the Company until October 16 th , 2022, at an exercise price of C$0.40.
Pursuant to a notice to holders of warrants dated September 29, 2022, the term of the Warrants is being amended to extend the expiry date of the Warrants by one year from October 16 th , 2022 to October 16 th , 2023. All other terms and conditions of the Warrants will remain unchanged.
Almadex Minerals Ltd. is an exploration company that holds a large mineral portfolio consisting of exploration projects and NSR royalties in Canada, the U.S., and Mexico. This portfolio is the direct result of many years of prospecting and deal-making by Almadex's management team. The Company remains focussed on grassroots exploration, acquisition and drilling mineral projects, on its own and in partnership with others, with the goal of creating new mineral resources and royalty holdings. The Company owns several portable diamond drill rigs, enabling it to conduct cost effective first pass exploration drilling in house.
On behalf of the Board of Directors,
“J. Duane Poliquin”
J. Duane Poliquin, Chairman
Almadex Minerals Ltd.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release includes forward-looking statements that are subject to risks and uncertainties. All statements within it, other than statements of historical fact, are to be considered forward looking. Forward-looking statements in this news release relating to the Company include, among other things, the approval by the TSXV of the warrant extension. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, permitting, continued availability of capital and financing, equipment availability, relationships with third-party clientele and their willingness or ability to continue to use the Company’s drills for exploration, and general economic, market or business conditions. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. The Company does not assume any obligation to update any forward-looking statements, other than as required pursuant to applicable securities laws.
Almadex Minerals Ltd.