October 05, 2011
Nanika Announces Warrant Extension Application
October 5, 2011 - Vancouver, British Columbia: Nanika Resources Inc. (TSXV-NKA and FSE-C7X) announces that it will apply to the TSX Venture Exchange (the "Exchange") to extend the expiry date of those two year warrants issued on October 27, 2009 and those two year warrants issued on November 20, 2009 so that they will expire on December 22, 2011. Extension of the warrants is subject to Exchange approval. Those two year warrants issued on December 22, 2009 will remain with an expiry date as issued. There are no other warrants outstanding. Therefore, following Exchange approval, all outstanding warrants issued by Nanika on various dates will all be expiring on December 22, 2011.
The private placement with warrants issued on October 27, 2009 consisted of 11,250,000 non flow-through units at the price of $0.08 per unit. The non flow-through units were comprised of one non flow-through share and one warrant, with each warrant entitling the holder to purchase one additional non-flow-through share at a price of 12 cents per share in the first twelve months and 14 cents in the subsequent twelve months.
The private placement with warrants issued on November 20, 2009 consisted of the issuance of 4,444,442 flow-through units at the price of $0.10125 per unit. The flow-through units were comprised of one flow-through share and one warrant, with each warrant entitling the holder to purchase one additional non-flow-through share at a price of 12 cents per share in the first twelve months and 14 cents in the subsequent twelve months.
The private placement with warrants issued on December 22, 2009 consisted of 698,765 flow-through units at the price of $0.10125 and 2,076,000 non flow-through units at the price of $0.08 per unit. The units were comprised of either one non flow-through share or one flow-through share respectively and one warrant, with each warrant entitling the holder to purchase one additional non flow-through common share at a price of 12 cents per share in the first twelve months and 14 cents in the subsequent twelve months.
Subject to Exchange approval, all of Nanika Resources Inc.'s 18,469,207 outstanding warrants will have an expiry date on December 22, 2011.
About Nanika Resources Inc.
Nanika Resources Inc. is a TSX Venture listed mineral exploration and development company focusing on the advancement of its mineral properties, all of which are located within Canada.
On Behalf of the Board,
James D. Jacuta,
Chairman, President and CEO.
For further information contact:
Nanika Resources Inc. at 604-638-0699 or Toll Free at 1-866-580-0699
http://www.nanikaresources.com
Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada (IIROC) accepts responsibility for the adequacy or accuracy of this release.