San Marco Resources

Published : October 06th, 2015

San Marco's Warrant Exercise Incentive Program Approved

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

San Marco's Warrant Exercise Incentive Program Approved

Vancouver, B.C. -- October 6, 2015:

San Marco Resources Inc. (SMN: TSX-V) is pleased to announce that the TSX Venture Exchange has approved its warrant exercise incentive program respecting warrants issued under two non-brokered private placements completed in 2014 and 2015. The Exchange also approved the amendment of the warrants issued in the 2014 placement so that their terms now match the terms of the warrants issued in the 2015 placement.

Under the warrant exercise incentive program and following the amendment of the warrants issued in 2014, there are 14,567,500 outstanding warrants which entitle the purchase of common shares of San Marco at $0.05 per share until January 28, 2016, then at $0.10 per share until January 28, 2017 and then at $0.15 until January 28, 2018. To encourage the early exercise of these warrants, San Marco has amended their terms such that each holder who exercises an outstanding warrant before Friday, October 16, 2015 shall 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. Warrants to purchase 1,198,500 shares issued as finder's fees are not part of the program.

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 at $0.05 per share until January 28, 2016, then at $0.10 per share until January 28, 2017 and then at $0.15 until January 28, 2018.

Directors of San Marco own an aggregate 3,239,500 outstanding warrants subject to the program. Any common shares issued to them upon the exercise of additional warrants they may acquire will be subject to a four month restricted resale period. Shares issued to other warrant holders under additional warrants issued to them will not be subject to such restricted resale period.

The participation in the incentive program by, and issuance of the additional warrants to, such directors constitutes a 'related party transaction' under Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions ('MI 61-101'). However, the warrant exercise 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.

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 (www.sanmarcocorp.com).

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 www.noodls.com
Data and Statistics for these countries : Canada | Georgia | Mexico | All
Gold and Silver Prices for these countries : Canada | Georgia | Mexico | All

San Marco Resources

CODE : SMN.V
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
ProfileMarket
Indicators
VALUE :
Projects & res.
Press
releases
Annual
report
RISK :
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$ 15.2 millions as of today (US$ 12.2 millions, € 10.7 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
TSX-V (SMN.V)
0.280+7.69%
TSX-V
CA$ 0.280
05/27 16:49 0.020
7.69%
Prev close Open
0.260 0.280
Low High
0.270 0.280
Year l/h YTD var.
0.260 -  0.650 -56.92%
52 week l/h 52 week var.
0.260 -  1.26 -71.72%
Volume 1 month var.
68,000 -13.85%
24hGold TrendPower© : -8
Produces
Develops
Explores for
 
 
 
Analyse
Interactive chart Add to compare
Interactive
chart
Print Compare Export
You must be logged in to use the porfolio and watchlists (free)
Top Newsreleases
MOST READ
Annual variation
DateVariationHighLow
2022-69.57%
2021145.33%1.350.37
2020200.00%0.400.10
20194.17%0.170.04
2018-29.41%0.300.10
 
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 :
Santos(Ngas-Oil)STO.AX
announces expected non-cash impairment
AU$ 8.15-0.97%Trend Power :
Oceana Gold(Au)OGC.AX
RELEASES NEW TECHNICAL REPORT FOR THE HAILE GOLD MINE
AU$ 3.37+3.37%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
TO ACQUIRE BLACK FOX FROM PRIMERO=C2=A0
US$ 0.61+22.07%Trend Power :
Rentech(Coal-Ngas)RTK
Rentech Announces Results for Second Quarter 2017
US$ 0.20-12.28%Trend Power :
KEFIKEFI.L
Reduced Funding Requirement
GBX 0.70+0.00%Trend Power :
Lupaka Gold Corp.LPK.V
Lupaka Gold Receives First Tranche Under Amended Invicta Financing Agreement
CA$ 0.02-20.00%Trend Power :
Imperial(Ag-Au-Cu)III.TO
Closes Bridge Loan Financing
CA$ 3.30+3.12%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$ 11.05+3.76%Trend Power :
Canarc Res.(Au)CCM.TO
Canarc Reports High Grade Gold in Surface Rock Samples at Fondaway Canyon, Nevada
CA$ 0.28-5.08%Trend Power :
Havilah(Cu-Le-Zn)HAV.AX
Q A April 2017 Quarterly Report
AU$ 0.28-1.79%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$ 2.55+0.00%Trend Power :
Devon Energy(Ngas-Oil)DVN
Announces $340 Million of Non-Core Asset Sales
US$ 75.80+2.78%Trend Power :
Precision Drilling(Oil)PD-UN.TO
Announces 2017Second Quarter Financial Results
CA$ 8.66-0.35%Trend Power :
Terramin(Ag-Au-Cu)TZN.AX
2nd Quarter Report
AU$ 0.04+14.29%Trend Power :