Black Panther Makes Application to Amend Terms of Share Purchase Warrants
News Release No: 14-06
Trading symbols: TSX-V: BPC
Black Panther Makes Application to Amend Terms of Share Purchase Warrants
West Vancouver, British Columbia – October 15, 2014 – Black Panther Mining Corp. (the “Company” or “Black Panther”) wishes to announce that, subject to regulatory approval, the Company intends to amend the terms of certain previously issued share purchase warrants.
In connection with a private placement that the Company completed on October 30, 2012 (Tranche 1) and November 7, 2012 (Tranche 2), an aggregate of 1,686,667 post-consolidated share purchase warrants (the “Warrants”) were issued with a post-consolidated exercise price of $0.30 per share and an expiry date of October 30, 2014 and November 7, 2014, respectively. Subsequently, on June 13, 2013, the Company affected a three (3) old shares for one (1) new share consolidation.
The Company has now filed an application with the TSX Venture Exchange (the “Exchange”) to extend the term for exercising the Warrants by one additional year to October 30, 2015 and November 7, 2015, respectively, and to reprice the Warrants at an exercise price of $0.105 per share. As Insiders hold greater than 10% of the Warrants, in accordance with Exchange policies, only 10% of the Warrants held by Insiders will be repriced. As a result, of the 500,000 Warrants held by Insiders, 168,667 Warrants will be repriced at $0.105 per share and the balance (331,333 Warrants) will remain at the original exercise price of $0.30 per share.
For further information, contact Mr. Clive Shallow, Shareholder Communications, at 604-922-2030, or visit the Company’s website at www.blackpanthermining.com.
BLACK PANTHER MINING CORP.
“Douglas L. Mason”
_________________________________ Douglas L. Mason, President and CEO
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.