Vancouver, BC – March 5, 2013 – Altair Gold Inc. (TSXV: AVX) (the “Company”) announces that it intends to make application to the TSX Venture Exchange to amend the term of certain outstanding share purchase warrants issued pursuant to a private placement that closed in two tranches, on March 20, 2012 and March 30, 2012. As disclosed in the following table, the amendment is limited to an extension of the term of the warrants without changes to the exercise price:
|Warrant Description||No. of Warrants||Original Exercise Price||Proposed Exercise Price||Original Expiry Date(1)||Proposed Expiry Date(1)|
|Issued as part of a unit private placement – first closing||1,612,500||$0.33||$0.33||March 20/13||March 20/14|
|Issued as part of a unit private placement – second closing||4,395,571||$0.33||$0.33||March 20/13||March 20/14|
Note: (1) All of the above-described warrants are subject to the right of the Company to accelerate the expiry of the warrants, if, during the term of the warrants, the Company’s common shares close at a price of $0.45 per share or greater for more than 20 consecutive trading days (the “Original Acceleration Terms”). These Original Acceleration Terms will also apply to the amended warrants.
The proposed amendment of the term of the warrants as set forth above is subject to acceptance for filing by the TSX Venture Exchange.
For further information please contact Justin Schroenn at 604.780.1371 or e-mail [email protected]
ON BEHALF OF THE BOARD
Fayyaz Alimohamed, President & CEO
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.