VANCOUVER, BC, Aug. 1, 2024 /CNW/ – Stuhini Exploration Ltd. (“Stuhini” or the “Company“) (TSXV: STU) (OTCQB: STXPF) wishes to issue this correction of a news release which was issued on July 31, 2024. The original news release did not disclose the number of FT Warrants and NFT Warrants (as such terms are defined below) that are subject to the expiry date extensions, and that such expiry date extensions are subject to the acceptance of the TSX Venture Exchange. Please see corrected news release below.
Stuhini announces its intention to extend the expiry date of previously issued common share purchase warrants to purchase up to 1,663,817 common shares at an exercise price of $0.60 per share (the “FT Warrants“). The FT Warrants were issued in connection with a non-brokered private placement (the “FT Offering“) of flow-through units (the “FT Units“), each FT Unit comprised of one flow-through common share and one-half of one FT Warrant. The FT Offering closed in two tranches on August 4, 2022 and August 19, 2022, with 1,071,250 of FT Warrants scheduled to expire on August 4, 2024 and 592,566 FT Warrants to expire on August 19, 2024, respectively.
The Company also intends to extend the expiry date of previously issued common share purchase warrants to purchase up to 596,250 common shares at an exercise price of $0.60 per share (the “NFT Warrants“). The NFT Warrants were issued in connection with a non-brokered private placement (the “NFT Offering“) of non-flow-through units (the “NFT Units“), each NFT Unit comprised of one common share and one-half of one NFT Warrant. The NFT Offering also closed in two tranches on August 4, 2022 and August 19, 2022, with 77,500 NFT Warrants scheduled to expire on August 4, 2024 and 518,750 NFT Warrants to expire on August 19, 2024, respectively.
If accepted by the TSX Venture Exchange, the Company will extend the expiry date of the FT Warrants and the NFT Warrants issued under the August 4, 2022 and August 19, 2022 tranches to August 4, 2026, and August 19, 2026, respectively. All other terms and conditions of the FT Warrants and NFT Warrants will remain unchanged. The extension of the expiry date in respect of the FT Warrants and the NFT Warrants is subject to the acceptance of the TSX Venture Exchange.
About Stuhini Exploration Ltd.
Stuhini is a mineral exploration company focused on exploration and development of precious and base metals properties in western Canada and the southwest United States. The Company’s portfolio of exploration properties includes the flagship Ruby Creek Property, 14 km east of Atlin, BC; the Que Project, 70 km north of Johnson’s Crossing, Yukon; the South Thompson Nickel Project, 35 km northwest of Grand Rapids, Manitoba; the Big Ledge Property, 57 km south of Revelstoke, BC; and the Lindsay Project in southeast Arizona.
Neither 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.
SOURCE Stuhini Exploration Ltd.
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