| | | Tue Feb 8, 2011
News Release
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| | Pennant Energy Inc. (the "Company") announces that it will be making an application to the TSX Venture Exchange to extend the terms of certain warrants previously issued. The private placements which these warrants relate to were issued on March 6, 2009 and March 30, 2010 and currently have expiry dates of March 6, 2011 and March 30, 2011, respectively. The application will request that the expiry date for the first set of warrants be extended for a period of three years, March 6, 2014 and the second set of warrants be extended for a period of four years March 30, 2015. All other terms of the warrants will remain the same.
Insiders of the Company hold approximately 508,500 or 28% of the first set of warrants which expire March 6, 2011.
The above mentioned amendment is subject to regulatory approval.
On behalf of the Board of Directors of
PENNANT ENERGY INC.
Signed: "Thomas Yingling"
Thomas Yingling, President
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release." |
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