BANYAN GOLD CORP . (“Banyan Gold”) is pleased to announce that further to its news release of January 31, 2014, the TSX Venture Exchange ("TSXV") has approved its application to extend the expiry date of 3,500,000 issued and outstanding common share purchase warrants (the "Warrants") in accordance with TSXV Policy 4.1.
Warrant Extension
The Warrants were originally issued by Banyan Gold Corp. on February 14, 2013 and March 1, 2013 in connection with the Corporation’s Qualifying Transaction and subsequent private placement. The warrants were exercisable at
$0.15 per common share and were set to expire between February 14, 2014 and March 1, 2014. Further to the Corporation`s extension application, the TSXV has agreed, in accordance with TSXV Policy 4.1, to permit the term of the Warrants to be extended until March 1, 2015 as follows:
| Number of Warrants |
Exercise Price |
Original Issuance Date |
Original Warrant Term |
Original Expiry Date |
Amended Expiry Date |
|---|---|---|---|---|---|
| 2,500,000 | $ 0.15 | February 14, 2013 | 1Year | February 14, 2014 | March 1, 2015 |
| 1,000,000 | $ 0.15 | March 1, 2013 | 1Year | March 1, 2014 | March 1, 2015 |
The exercise price of the Warrants will remain unchanged.
About Banyan Gold
Banyan Gold is a gold exploration and development company whose flagship property, the Hyland Gold Project (“Hyland”), is approximately 70 km NE of Watson Lake, Yukon, along the southeast end of the Tintina Gold Belt. The Main Zone gold Inferred Resource, at a 0.6 g/t gold equivalent ("AuEq") cutoff, hosts a NI 43-101 compliant Resource of 12,503,994 tonnes containing 361,692 ounces gold at 0.9 g/t and 2,248,948 ounces silver at 5.59 g/t for a combined gold and silver 396,468 ounces gold equivalent. Based on the success of previous exploration and numerous untested drill ready targets Banyan Gold management foresees potential for a significant regional exploration at Hyland.
Banyan Gold trades on the TSX-Venture Exchange under the symbol “BYN”. For more information please visit the corporate website at www.banyangold.com or contact Banyan Gold.
This News Release has been reviewed and approved by Paul D. Gray, B.Sc., P.Geo., Vice President Exploration for Banyan Gold, the Qualified Person as defined by NI 43-101.
ON BEHALF OF THE BANYAN GOLD BOARD OF DIRECTORS
(signed) "Richmond Graham"
Richmond Graham
President and Chief Executive Officer
For more information, please contact:
Richmond Graham
Tel: (604) 648-8450
Email: rgraham@banyangold.com
The TSX Venture Exchange (the “Exchange) has neither approved nor disapproved the contents of this press release. Neither the Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this release.
Disclaimer for Forward-Looking Information
Statements in this news release regarding Banyan Gold which are not historical facts are “forward-looking statements” that involve risks and uncertainties. Such information can generally be identified by the use of forwarding-looking wording such as “may”, “will”, “expect”, “estimate”, “anticipate”, “intend”, “believe” and “continue” or the negative thereof or similar variations.