K92 Reports on Warrant Exercises and Warrant Expiration
- more than $2 million in warrant exercises completed during past 10 days
- all warrants exercisable at $0.50 have now been exercised or have expired
K92 Mining Inc. (“K92”) is pleased to report it has received warrant exercises with a value in excess of $2 million during the past 10 days.
As at May 20, 2016, K92 had 22,136,890 warrants exercisable at $0.50 outstanding. The last of these warrants expired on November 20, 2017.
Prior to the expiration date, a cumulative total of 16,437,048 warrants were exercised for total proceeds to K92 of $8,218,524. This cumulative total includes in excess of more than $2 million exercised during the last 10 days (all funds in CAD).
During the past month, K92 has reported on continued progress at its Kainantu Gold-Copper project located in Papua New Guinea and has issued updates on production, exploration and expansion. Mining and processing operations are ongoing and two drill rigs are currently operating from underground set-ups with a third more powerful drill rig having recently arrived on site and currently being commissioned.
On Behalf of the Company
Chief Executive Officer and Director
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This news release includes certain “forward-looking statements” under applicable Canadian securities legislation. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. All statements that address future plans, activities, events or developments that the Company believes, expects or anticipates will or may occur are forward-looking information, including statements regarding the realization of the preliminary economic analysis for the Project, expectations of future cash flows, the proposed plant expansion, potential expansion of resources and the generation of further drilling results which may or may not occur. Forward-looking statements and information contained herein are based on certain factors and assumptions regarding, among other things, the market price of the Company’s securities, metal prices, exchange rates, taxation, the estimation, timing and amount of future exploration and development, capital and operating costs, the availability of financing, the receipt of regulatory approvals, environmental risks, title disputes, failure of plant, equipment or processes to operate as anticipated, accidents, labour disputes, claims and limitations on insurance coverage and other risks of the mining industry, changes in national and local government regulation of mining operations, and regulations and other matters. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.