Continuum Extends Expiry Date of Remaining Warrants
January 11, 2008 - Vancouver, B.C.: Continuum Resources Ltd (TSXV:CNU) announces that it has approved the repricing of incentive stock options issued on June 20, 2007 (see our news release of that date) to certain directors and consultants of the Company to purchase up to 400,000 common shares in the capital stock of the Company. The options, which were originally exercisable at a price of $0.55 per share, will now have an exercise price of $0.30. The expiry date of these options will remain June 20, 2012.
Per the policies of the TSX Venture Exchange, the repricing of the options that were granted to the director of the Company require the approval of a majority of the disinterested shareholders of the Company at its next annual general meeting to be held later this year. Accordingly, the director holding these options will not be permitted to exercise any of them before this approval is received.
Background
Continuum is actively exploring 12 separate gold-silver projects in the state of Oaxaca, where Continuum has acquired approximately 220,000 hectares. Continuum is also 24% joint venture partner with Fortuna Silver Mines Inc. (TSXV: FVI) on the San Jose silver project, on which drilling continues to expand on the resource estimate previously announced by the Company on March 12, 2007.
On behalf of the Board of Continuum Resources Ltd.
"Warren M. McIntyre"
Warren M. McIntyre, Corporate Secretary and Director
Renmark Financial Communications Inc.
Barry Mire : bmire@renmarkfinancial.com
Dan Symons : dsymons@renmarkfinancial.com
Tel. : (514) 939-3989
Fax : (514) 939-3717
www.renmarkfinancial.com
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT TAKE RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
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Continuum Resources Ltd.
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PRODUCER |
CODE : CNU.V |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Continuum is a silver and gold producing company based in Canada. Continuum holds various exploration projects in Mexico. Its main asset in production is SAN JOSE PROJECT in Mexico and its main exploration properties are LA PREDILECTA, NINO PERDIDO, TALEA, LACHATAO, TERI, LACHIGUIRI, NATIVIDAD and TAVICHE in Mexico and RICHARDSON LAKE in Canada. Continuum is listed in Canada, in Germany and in United States of America. Its market capitalisation is CA$ 5.6 millions as of today (US$ 4.4 millions, € 3.5 millions). Its stock quote reached its highest recent level on December 31, 2003 at CA$ 1.20, and its lowest recent point on October 24, 2008 at CA$ 0.01. Continuum has 124 038 000 shares outstanding. |