Amur Minerals Corporation (“Amur” or the “Company”), the nickel-copper sulphide mineral exploration and resource development company focused on the far east of Russia, announces that, pursuant to the subscription agreement entered into with Crede CG III Ltd (“Investor”) on 14 December 2015, the Investor has elected to convert all 17,045,455 warrants issued under the initial subscription (“Warrants”). Notice of conversion of the Warrants was received by Amur on 26 February 2016.
Under the terms of the financing, the Investor may exercise the Warrants by exchanging them for new Ordinary Shares of no par value (“Ordinary Shares”) being such number of new Ordinary Shares calculated by dividing the aggregate Black-Scholes Value of the Warrants held and to be exercised by the Investor by the closing bid price of Ordinary Shares on the trading day two days prior to the date on which the Warrant notice is issued, at a price per Ordinary Share equal to the Black-Scholes Subscription Price payable in full on the trading date the Warrant is exercised.