West Vancouver, British Columbia - April 18, 2008 - Columbia Yukon Explorations Inc. (the “Company” or “Columbia Yukon”) is pleased to provide an update on its current share purchase warrant position.
Firstly, in connection with a non-brokered private placement that the Company completed on April 11, 2007, a total of 6,791,050 warrants were issued at an exercise price of $0.50 and exercisable for one year. As of the April 11, 2008 expiry date, 5,761,050 warrants were exercised (85% of the warrants issued), which resulted in the Company receiving additional funding of $2,880,525. As the Company’s 2008 drilling and exploration programs for its “Storie” Molybdenum Property deposit are already fully funded from previous financings, these additional warrant exercise funds will be applied to the Company’s drilling and exploration requirements for 2009.
Additionally, in connection with a non-brokered private placement that the Company completed on May 14, 2007, an aggregate of 2,750,000 warrants were issued (2,200,000 warrants exercisable at $1.25 and 550,000 warrants exercisable at $1.35, respectively) with an initial expiry date of May 14, 2008. The Company has made application to the TSX Venture Exchange (the “Exchange”) to extend the expiry date of these warrants for an additional one year (new expiry date of May 14, 2009), with the warrant exercise prices remaining unchanged.
About Columbia Yukon Explorations Inc.:
Columbia Yukon is a Canadian mineral exploration company focused on the development of its Storie Molybdenum Property deposit located in northern British Columbia, 5km south of the Hwy from the former Cassiar Mine townsite.
For further information, contact Mr. Clive Shallow, investor communications at 604-922-2030 or visit the Company’s website at www.columbiayukon.com.
Columbia Yukon Explorations Inc.
“Douglas L. Mason”
_________________________________
Douglas L. Mason, Chairman
The TSX Venture Exchange has not reviewed this news release and does not accept responsibility for the adequacy or accuracy of this release. |
