Petro One Energy Corp. reports that the TSX Venture Exchange has consented to the extension of the exercise term of 2,220,003 outstanding share purchase warrants by two years.
On December 22, 2011, the Company distributed 4,440,005 units at the price of $0.60 per unit by way of non-brokered private placement. Each unit was comprised of one common share and one-half of a common share purchase warrant. Each full warrant was originally exercisable to purchase one common share for $0.80 at any time prior to 4:30 p.m. on December 22, 2013. The exercise term of those warrants has now been extended to December 22, 2015. There has been no change to the exercise price of any warrants.