August 13, 2009 Strategic Metals Ltd. Amends Terms Of Share Purchase Warrants
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
August 13, 2009 -- Strategic Metals Ltd. (TSX-V: SMD) ("Strategic") announces, further to its July 28, 2009 News Release, that it has received the consent of all warrantholders, as well as the TSX Venture Exchange, to the amendments disclosed in the following table to certain share purchase warrants issued as part of a private placement:
Number of Warrants Outstanding
Original Exercise
Price
Original Expiry Date
Amended Exercise Price
Amended Expiry Date
11,000,000
$1.20 (subsequently reduced to $1.1625 as a result of the Company's Plan of Arrangement with Zinccorp Resources Inc.)
August 14, 2009
$0.60
August 14, 2010
(subject to potential earlier expiry as disclosed below)
These warrants will have their exercise period shortened to a period of 30 days if, for ten consecutive trading days (the "Premium Trading Days"), the closing price of Strategic's shares is $0.72 or greater -- this 30 day period will commence 7 calendar days after the tenth Premium Trading Day.
For further information concerning Strategic Metals Ltd. or its various exploration projects please visit our website at www.strategicmetalsltd.com or contact:
Graham Downs
Corporate Communications Strategic Metals Ltd.
604-687-2522
STRATEGIC METALS LTD.
Per: W. Douglas Eaton, President and Chief Executive Officer
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 NEWS RELEASE.
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