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Re: News Releases - Monday, April 23, 2012
First Point Minerals Extends Expiry Date of Warrants
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First Point Minerals Corp. (FPX-TSX.V) ("First Point" or the "Company")
has received approval from the TSX Venture Exchange to extend the term
of the warrants, which would have otherwise expired on April 26, 2012.
A total of 7,500,000 warrants were originally issued in connection with
a private placement of First Point units on April 26, 2010. Those
warrants had an expiry date of April 26, 2012. During the year ended
April 26, 2011, 3,537,100 warrants were exercised at $0.65 per share,
leaving a balance of 3,962,500 warrants outstanding, exercisable at
$0.80 per share with the April 26, 2012 expiry date. The expiry date
has been extended by a full year, such that the 3,962,500 warrants will
now expire on April 26, 2013, with each warrant entitling the holder to
purchase one common share of the Company at $0.80 per share.
The warrants when originally issued contained a provision whereby the
expiry date could be accelerated under certain circumstances. That
provision continues to apply to the 3,962,500 warrants with the
extended expiry date. If the closing price of the Company's shares
equals or exceeds $1.10 per share for a period of 20 consecutive
trading days, the Company will have the right to accelerate the expiry
date of the warrants by giving 30 days written notice to the warrant
holders.
About First Point
First Point Minerals Corp. is a Canadian base and precious metal
exploration company. For more information, please view the Company's
website at www.firstpointminerals.com or contact Jim Gilbert,
President and CEO, or Rob Robertson, VP Corporate Development, at (604)
681-8600.
On behalf of First Point Minerals Corp.
"Jim Gilbert"
Jim Gilbert, President and CEO - TSX Venture Exchange: FPX
Suite 906 -- 1112 West Pender Street
Vancouver, BC Canada V6E 2S1
Tel: 604.681.8600 Fax: 604.681.8799
e-mail: info@firstpointminerals.com
Neither the TSX Venture Exchange nor its Regulation Services Provider
accepts
responsibility for the adequacy or accuracy of this release.
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Copyright (c) 2012 FIRST POINT MINERALS CORP. (FPX) All rights
reserved. For more information visit our website at
http://www.firstpointminerals.com/ or send
mailto:info@firstpointminerals.com
Message sent on Mon Apr 23, 2012 at 12:38:18 PM Pacific Time
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