VANCOUVER, Jan. 8, 2013 /CNW/ - Altan Rio Minerals Limited, TSX.V: AMO ("Altan Rio" or the "Company") announces it has applied to the TSX Venture Exchange for approval to extend and re-price a total of 13,793,521 outstanding common share purchase warrants ("Warrants") issued as part of private placements between 2009 to 2011 and concurrently with the Company's Qualifying Transaction in December 2011. Subject to Exchange approval, all Warrants will be extended to February 10, 2014 with a new exercise price of CA$0.55 per share. All other terms and conditions of the Warrants remain unchanged.
A total of 12,793,521 Warrants were originally issued between 2009 to 2011 when Altan Rio was a private company at an exercise price of CA$0.69 per share with an expiry date of January 6th, 2013. The remaining 1,000,000 Warrants were issued concurrently with the Company's Qualifying Transaction at an exercise price of CA$0.65 per share with an expiry date of December 23rd, 2013. It is noted that 94.5% of the warrants are held by arm's length parties.
About Altan Rio
Altan Rio, founded in 2007, is based in Vancouver BC, Canada. Using innovative exploration targeting techniques and leveraging long-term in-country experience, the company explores large-scale gold and copper projects in Mongolia, one of the world's most prospective mineral regions. The Company's license holdings in Mongolia, which total more than 153,310 hectares (378,873 acres), contain significant zones of newly identified primary gold and copper mineralization across a very large area of unexplored ground.
On behalf of Altan Rio Minerals Limited,
Evan Jones, President & CEO
This press release may contain forward looking statements including those describing Altan Rio's future plans and the expectations of management that a stated result or condition will occur. Any statement addressing future events or conditions necessarily involves inherent risk and uncertainty. Actual results can differ materially from those anticipated by management at the time of writing due to many factors, the majority of which are beyond the control of Altan Rio and its management.
Neither the TSX Venture Exchange nor its Regulation Services Provider
(as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE: Altan Rio Minerals Limited
Kelly Earle, Corporate Communications Manager
Altan Rio Minerals Limited
Tel: +1 604 639 5899 ext. 220