Anticipates Proceeds of Approximately C$7.1 Million
Hathor Exploration Limited (TSX-V: HAT) (the "Company") announced today that it has triggered the accelerated expiry of 3,579,922 warrants, exerciseable at C$2.00 per share, to the close of business on October 15, 2008. If all of the warrants are exercised, the Company will receive proceeds of C$7,159,844 and will have 84,376,623 shares in issue. Funds raised by the early expiry of the warrants will be used for exploration and development of Hathor's uranium projects and for general working capital. The details of the warrant exercises are set out below.
Further to the Company's news releases of March 19, 2007 and April 20, 2007 wherein Hathor completed a brokered private placement which included 9,036,750 non flow-through units at a price of $1.60 per unit for gross proceeds of $14,458,800 (each unit consisted of one share (a "Share") and one half of a common share purchase warrant (the "Warrants"), the Warrants had a term of 24 months from the date of closing, provided that if for a period of 20 consecutive trading days, the closing price of the common shares of Hathor as traded on the TSX Venture Exchange was over $3.00 per share, Hathor would have the right to accelerate the expiry date of the Warrants by giving notice to the holders that the Warrants will expire 30 days thereafter. Effective September 10, 2008, the Company has elected to trigger the accelerated expiry of the 3,579,922 Warrants will now expire on the close of business October 15, 2008 ("New Warrant Expiry Date"). Any Warrants that have not been exercised on or before the New Warrant Expiry Date will have been deemed cancelled.
Hathor Exploration Limited
Stephen G. Stanley, Director
SOURCE: Hathor Exploration Limited
Hathor Exploration Limited Stephen Stanley (604) 684-6707 Hathor Exploration Limited Tony Nunziata (403) 560-7040 Website: www.hathor.ca