WEEKLY ONLINE NEWS STORY
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| November 26, 2014 --- Vol. 08, No. 48 | November 2014
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Yukon Territory
FINANCE – Copper North Mining Corp. Nov. 25 reported that it has received gross proceeds of C$490,000 from the exercise of 7 million warrants issued on April 24, 2014 as part of its previously announced incentive program to encourage the early exercise of original warrants. Further to the company’s news release dated Nov. 4, 2014, the company has amended the terms of the original warrants such that each holder who exercised its original warrants on or before Nov. 24 received, in addition to the common share the holder would have received under the original terms of the original warrants, an additional ˝ of a share purchase warrant of the company. Each additional warrant entitles the holder to acquire one common share of the company at an exercise price of C6 cents until Nov. 25, 2016. The additional warrants and the common shares issuable upon the exercise thereof are subject to a hold period and may not be traded until March 26, 2015 except as permitted by applicable securities legislation. The proceeds from the early exercise of the original warrants will be used for general working capital purposes. Original warrants not exercised continue to be exercisable for only common shares of the company according to the original warrant terms.
OPERATIONS – Kaminak Gold Corp. Nov. 24 has determined to change its fiscal year end from Sept. 30 to Dec. 31, effective for the 2014 fiscal year. The company is making this change for operational and administrative efficiency. As a result of the change in fiscal year end, the company anticipates filing unaudited financial statements and the related management’s discussion and analysis for the 12 months ended Sept. 30, 2014, on or before Nov. 29, 2014, and filing for the audited financial statements for the 15 months ended Dec. 31, 2014 is due on or before April 30, 2015.
SHARE REPURCHASES – Strategic Metals Ltd. Nov. 21 reported that it is making a new normal course issuer bid pursuant to provisions of TSX Venture Exchange policy, to succeed its existing normal course issuer, as accepted by the TSX Venture Exchange on Nov. 21, 2013. Through Oct. 31, 2014, Strategic had purchased 1.354 million shares under the old bid, which will expire on Nov. 25, 2014, at an average price of C34.29 cents per share, and through Oct. 31, 2014 had purchased a total of 6.14 million shares since January 2008 under successive normal course issuer bids. The new bid will consist of the acquisition by Strategic of up to 6.9 million common shares of its capital stock, representing about 10 percent of the “public float” of 69.37 million common shares upon the date of commencement of the new bid. (There are currently 87.67 million common shares of Strategic issued and outstanding.) The new bid will commence on Nov. 26, 2014, and will expire on Nov. 25, 2015. Strategic is making the new bid, to succeed the old bid (which was limited to an aggregate of 7.3 million common shares), because it is of the opinion that fluctuating global market conditions periodically (and currently) may result in unwarranted reductions in Strategic’s share price that do not reflect the underlying value of its assets. Strategic will utilize unallocated cash resources to effect purchases under the new bid with a view to capitalizing on these potential price weaknesses. Shares purchased under the new bid will be made at management’s discretion based on market conditions, and will be returned to Strategic’s treasury for cancellation. The new bid will be conducted on behalf of Strategic by PI Financial Corp., of Suite 1900 - 666 Burrard Street, Vancouver, B.C.
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