TORONTO, ONTARIO -- (Marketwired) -- 12/12/14 -- AurCrest Gold Inc. (the "Company" or "AurCrest") (TSX VENTURE: AGO) wishes to announce that it will make application to extend the exercise dates of 3,200,000 warrants currently exercisable between December 21, 2014 and January 21, 2015 at $0.25 per share issued pursuant to the private placement financings which closed between December 21, 2012 and January 21, 2013 (the "Private Placement"). The warrants' expiry dates will be extended for a further year from their existing expiry dates. There has been no change to the warrants' exercise price.
50% of the warrants are held by insiders of the Company who participated in the Private Placement. The extension of the expiry of the warrants is exempt from the valuation and minority shareholder approval requirements of Multilateral Instrument 61-101 ("MI 61-101") by virtue of the exemptions contain in section 5.5(a) and 5.7(1) (a) of MI 61-101 in that the fair market value of the consideration for the securities of the Company issued to the insiders does not exceed 25% of its market capitalization.
Assay results from the last two holes drilled on the Richardson Lake gold property are still pending.
About AurCrest Gold Inc.
AurCrest is a mineral exploration company focused on the acquisition, exploration, and development of gold properties. AurCrest has a portfolio of properties in Ontario, which include the Richardson Lake and Bridget Lake gold properties.
Forward-Looking Statement:
Some of the statements contained herein may be forward-looking statements which involve known and unknown risks and uncertainties. Without limitation, statements regarding potential mineralization and resources, exploration results, and future plans and objectives of the Company are forward-looking statements that involve various risks. The following are important factors that could cause the Company's actual results to differ materially from those expressed or implied by such forward-looking statements: changes in the world wide price of mineral commodities, general market conditions, risks inherent in mineral exploration, risks associated with development, construction and mining operations, the uncertainty of future profitability and the uncertainty of access to additional capital. There can be no assurance that forward-looking statements will prove to be accurate as actual results and future events may differ materially from those anticipated in such statements. AurCrest undertakes no obligation to update such forward-looking statements if circumstances or management's estimates or opinions should change. The reader is cautioned not to place undue reliance on such forward-looking statements.
Neither 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.
Contacts:
AurCrest Gold Inc.
Ian Brodie-Brown
President and C.E.O.
(416) 368-2929
info@aurcrestgold.com
www.aurcrestgold.com
