San Marco Resources

Published : September 15th, 2015

San Marco Announces Warrant Exercise Incentive Program

( 0 vote, 0/5 ) Print article
  Article Comments Comment this article Rating Follow Company  
Keywords :   Canada | G Mexico | Georgia | Market | Mexico | Volatility |

San Marco Announces Warrant Exercise Incentive Program

Vancouver, B.C. - September 15, 2015: San Marco Resources Inc. (SMN: TSX-V) is pleased to announce the adoption of an incentive program to encourage the early exercise of its outstanding share purchase warrants.

The outstanding warrants, issued under non-brokered private placements, entitle the purchase of common shares of San Marco as follows:

  • 14,166,000 shares at $0.05 per share until January 28, 2016, then $0.10 per share until January 28, 2017 and then at $0.15 until January 28, 2018; and
  • 1,600,000 shares at $0.50 per share until April 24, 2017 (subject to TSX Venture Exchange approval, San Marco intends to also amend the terms of such warrants to match the 14,166,000 warrants).
To encourage the early exercise of the outstanding warrants, San Marco proposes to amend their terms such that each holder who exercises an outstanding warrant before Friday, October 16, 2015 shall be entitled to receive an additional non-transferable share purchase warrant entitling the holder to acquire one common share at an exercise price of $0.05 until October 16, 2018. The common shares issuable upon the exercise of the additional warrants will be subject to a four month restricted resale period. The proceeds from the early exercise of the outstanding warrants will be used for continued exploration of San Marco's Cuatro de Mayo Project in Sonora State, Mexico and general working capital purposes.

If a holder does not exercise the outstanding warrants before October 16, 2015 (or only partially exercises them), the outstanding warrants (or the portion not exercised) shall continue to be exercisable to purchase only common shares of San Marco on their original terms.

Directors of San Marco own an aggregate 3,239,500 outstanding warrants. Their participation in the incentive program and issuance of the additional warrants constitutes a "related party transaction" as defined in Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions ("MI 61-101"). However, the warrant incentive program is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as San Marco's common shares are listed on the TSX Venture Exchange and, in respect of the minority shareholder approval requirement, neither the fair market value of the additional warrants nor the consideration to be received for the additional warrants exceeds 25% of San Marco's market capitalization.

The incentive program is subject to approval by the TSX Venture Exchange.

About San Marco:

San Marco Resources Inc. is a Canadian mineral exploration company with a portfolio of three promising projects in mining-friendly Mexico, including the Cuatro de Mayo Project in Sonora State on which San Marco is currently active (

San Marco maintains a strategic project generation program focused on high-calibre, low-cost acquisition opportunities in the Cuatro de Mayo District. San Marco has a committed management team with extensive experience in Mexico and a proven track record of building shareholder value.

For further information, contact:

Robert Willis, P. Eng., CEO
Phone: 604-813-2606
[email protected]

This news release contains "forward-looking information" and "forward-looking statements" (together, the "forward-looking statements"), which are not historical facts are forward-looking statements that involve risks, uncertainties and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. Factors that could cause such differences, without limiting the generality of the following, include: risks inherent in exploration activities; volatility and sensitivity to market prices; volatility and sensitivity to capital market fluctuations; the impact of exploration competition; the ability to raise funds through private or public equity financings; imprecision in resource and reserve estimates; environmental and safety risks including increased regulatory burdens; unexpected geological or hydrological conditions; changes in government regulations and policies, including trade laws and policies; failure to obtain necessary permits and approvals from government authorities; weather and other natural phenomena; and other exploration, development, operating, financial market and regulatory risks. These forward-looking statements are made as of the date of this news release. San Marco Resources Inc. disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.

Read the rest of the article at
Data and Statistics for these countries : Canada | Georgia | Mexico | All
Gold and Silver Prices for these countries : Canada | Georgia | Mexico | All

San Marco Resources

Follow and Invest
Add to watch list Add to your portfolio Add or edit a note
Add Alert Add to Watchlists Add to Portfolio Add Note
Projects & res.
Asset profile
Contact Cpy

San Marco Resources is a gold and silver exploration company based in Canada.

San Marco Resources is listed in Canada. Its market capitalisation is CA$ 14.7 millions as of today (US$ 11.7 millions, € 10.3 millions).

Its stock quote reached its lowest recent point on January 09, 2015 at CA$ 0.01, and its highest recent level on June 04, 2021 at CA$ 1.35.

San Marco Resources has 54 350 000 shares outstanding.

Your feedback is appreciated, please leave a comment or rate this article.
Rate : Average note :0 (0 vote) View Top rated
Corporate news of San Marco Resources
6/7/2016San Marco Grants Incentive Stock Options
5/5/2016San Marco and GlobeTrotters sign Alliance Agreement to Gener...
4/25/2016San Marco Closes Oversubscribed $439,550 Unit Private Placem...
4/8/2016San Marco Increases Unit Private Placement to $300,000
11/2/2015San Marco's Warrant Exercise Incentive Program Completed
10/14/2015San Marco's Warrant Exercise Incentive Program Extended
10/6/2015San Marco's Warrant Exercise Incentive Program Approved
9/15/2015San Marco Announces Warrant Exercise Incentive Program
9/14/2015San Marco Continues Exploration at Cuatro de Mayo; Samples 1...
Comments closed
Latest comment posted for this article
Be the first to comment
Add your comment
CA$ 0.270
05/20 15:31 -0.020
Prev close Open
0.285 0.280
Low High
0.270 0.280
Year l/h YTD var.
0.270 -  0.650 -58.46%
52 week l/h 52 week var.
0.270 -  1.26 -74.53%
Volume 1 month var.
11,000 -20.59%
24hGold TrendPower© : -8
Explores for
Interactive chart Add to compare
Print Compare Export
You must be logged in to use the porfolio and watchlists (free)
Top Newsreleases
Annual variation
5 years chart
3 months chart
3 months volume chart
Mining Company News
Plymouth Minerals LTDPLH.AX
Plymouth Minerals Intersects Further High Grade Potash in Drilling at Banio Potash Project - Plannin
AU$ 0.12-8.00%Trend Power :
announces expected non-cash impairment
AU$ 8.24+0.92%Trend Power :
Oceana Gold(Au)OGC.AX
AU$ 3.02-1.95%Trend Power :
Western Areas NL(Au-Ni-Pl)WSA.AX
Advance Notice - Full Year Results Conference Call
AU$ 3.84+0.00%Trend Power :
Canadian Zinc(Ag-Au-Cu)CZN.TO
Reports Financial Results for Q2 and Provides Project Updates
CA$ 0.12+4.55%Trend Power :
Stornoway Diamond(Gems-Au-Ur)SWY.TO
Second Quarter Results
CA$ 0.02+100.00%Trend Power :
McEwen Mining(Cu-Le-Zn)MUX
US$ 0.50-3.27%Trend Power :
Rentech Announces Results for Second Quarter 2017
US$ 0.20-12.28%Trend Power :
Reduced Funding Requirement
GBX 0.70-4.39%Trend Power :
Lupaka Gold Corp.LPK.V
Lupaka Gold Receives First Tranche Under Amended Invicta Financing Agreement
CA$ 0.02+0.00%Trend Power :
Closes Bridge Loan Financing
CA$ 3.40-7.36%Trend Power :
Guyana Goldfields(Cu-Zn-Pa)GUY.TO
Reports Second Quarter 2017 Results and Maintains Production Guidance
CA$ 1.84+0.00%Trend Power :
Lundin Mining(Ag-Au-Cu)LUN.TO
d Share Capital and Voting Rights for Lundin Mining
CA$ 10.65-1.30%Trend Power :
Canarc Res.(Au)CCM.TO
Canarc Reports High Grade Gold in Surface Rock Samples at Fondaway Canyon, Nevada
CA$ 0.30+1.72%Trend Power :
Q A April 2017 Quarterly Report
AU$ 0.26-7.02%Trend Power :
Uranium Res.(Ur)URRE
Commences Lithium Exploration Drilling at the Columbus Basin Project
US$ 6.80-2.86%Trend Power :
Platinum Group Metals(Au-Cu-Gems)PTM.TO
Platinum Group Metals Ltd. Operational and Strategic Process ...
CA$ 1.76-2.22%Trend Power :
Devon Energy(Ngas-Oil)DVN
Announces $340 Million of Non-Core Asset Sales
US$ 69.92+0.59%Trend Power :
Precision Drilling(Oil)PD-UN.TO
Announces 2017Second Quarter Financial Results
CA$ 8.66-0.35%Trend Power :
2nd Quarter Report
AU$ 0.04-6.67%Trend Power :