Kivalliq Energy Corp. Announces Application to Extend Warrant Expiry Dates
VANCOUVER, BRITISH COLUMBIA–(EMWPresswire – July 25, 2008) – Kivalliq Energy Corp. (the “Company”) (TSX VENTURE:KIV) announces that it has applied to the TSX Venture Exchange to extend the warrant expiry dates of 9,510,519 common share purchase warrants issued as part of the issuance of units in connection with the spin-out transaction completed on July 4, 2008. Each warrant was originally exercisable for one common share until August 4, 2008 at a price of $0.25 per share. Common shares issued on exercise of the warrants are subject to a contractual restriction on trading until November 4, 2008.
Application has been made to the TSX Venture Exchange to extend the expiry dates of all of the warrants to September 4, 2008. Other than the extension of the warrant expiry dates, the remaining attributes of the warrants will remain the same.
About Kivalliq Energy
Kivalliq Energy Corporation is a new uranium exploration and development company with a unique opportunity. Kivalliq is the first company in Canada to sign a comprehensive agreement to explore on Inuit Owned Lands for uranium. This landmark partnership between Kivalliq and Nunavut Tunngavik Inc. resulted in Kivalliq being awarded the right to explore and develop the historic high-grade, near surface Lac Cinquante Uranium Deposit which is reported to contain 11.6 million pounds of uranium oxide (non compliant with National Instrument 43-101)(i) with grades averaging 1.03% U3O8.
On behalf of the Board of Directors
John Robins, P. Geo., President and CEO
Kivalliq Energy Corporation
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
(i) The quoted disclosure for the Lac Cinquante Uranium Deposit was prepared by Aberford Resources Ltd. This estimate is historical and should not be relied upon since it is not compliant to standards set out in National Instrument 43-101. However, it is relevant because: it is indicative of a mineralized zone worthy of follow-up exploration as it is based on drilling and surface exploration carried out by what is believed to be knowledgeable explorers in accordance with acceptable industry practices at the time of the estimate. A Qualified Person has not classified historical estimates as current mineral resources/reserves, and Kivalliq is not treating them as current mineral resources/reserves since work to date has not verified the historical estimates. Kivalliq has not done any work to confirm these estimates but will be planning exploration programs aimed at evaluating the economic potential of the deposit and environs. It is uncertain if further exploration will result in the deposit being delineated as a mineral resource.
Certain disclosures in this release, including management’s assessment of plans and projects and intentions with respect to listings of securities, use of proceeds and future exploration programs, constitute forward-looking statements that are subject to numerous risks, uncertainties and other factors relating to Kivalliq’s operations as a mineral exploration company that may cause future results to differ materially from those expressed or implied in such forward-looking statements, including risks as to the completion of the plans and projects. Readers are cautioned not to place undue reliance on forward-looking statements. Kivalliq expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events, or otherwise.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
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