Vancouver, B.C. - Kaminak Gold Corporation (KAM: TSX-V)('Kaminak' or the 'Company') is pleased to confirm that the Company has elected to accelerate the expiry date of 13,719,512 warrants (the 'Warrants') issued as part of the October 30, 2015 private placement from October 30, 2017 to Wednesday, May 4, 2016. Each Warrant may be exercised to acquire one common share of Kaminak at $1.05, for gross proceeds to Kaminak of up to C$14.4 million if all Warrants are exercised.
Under the terms of the Warrants, Kaminak is permitted to accelerate the expiry date of the Warrants if the volume weighted average trading price of the Company's common shares listed on the TSX-V is at or above C$1.35 for any ten preceding trading days (the 'Acceleration Event'). Kaminak is pleased to confirm that an Acceleration Event occurred as of March 30, 2016. Accordingly, Kaminak has chosen to accelerate the expiry date of the Warrants to 5:00pm Vancouver time on Wednesday, May 4, 2016 (the 'Accelerated Expiry Date').
On behalf of the Board of Directors of Kaminak
'Eira Thomas'
President and CEO
Kaminak Gold Corporation
For further information about Kaminak Gold Corporation or this news release, please visit our website at www.kaminak.com or contact Tony Reda, Vice-President of Corporate Development, at toll free 1.888.331.2269, directly at 604.646.4534 or by email at [email protected].
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.