Alpha Minerals Inc. (TSXV:AMW) announced that it is exercising its Conversion Right and will send notice to the holders of the Warrants, Compensation Options and Compensation Warrants, whom shall have 20 Business Days after the receipt of the conversion notice to exercise. At present, there are 2,347,616 Warrants exercisable at $1.00, and 12,400 Compensation Options exercisable at $0.50 and 88,340 Compensation Warrants exercisable at $1.00 with an expiry date of May 25, 2015. Any Warrants, Compensation Options or Compensation Warrants that have not been exercised within the prescribed time period shall be deemed expired.
As quoted in the press release:
Under the terms and conditions of the Warrant and Compensation Option Certificates from the May 25, 2010 financing, the Company has the right to require the conversion of any Warrants and Compensation Options into the respective underlying securities thereof at the applicable exercise price should the Common Shares trading on the Exchange close for 20 consecutive trading days at a price of $2.00 (Canadian) or above (the “Conversion Right”). This Conversion Right occurred on February 6, 2013 after market close.