Shoreham Announces Warrants Exercised At Above Market

Shoreham Resources Ltd. (TSXV:SMH) reports its warrants exercised at a price of $0.60 per share for gross proceeds of $210,000.

The press release is quoted as saying:

The exercise of the $0.60 Warrants was also one of the option exercise requirements in respect of Mulgravian’s outstanding option to acquire a 51% joint venture interest in Shoreham’s Five Star Project. Another requirement related to the Five Star Project option is the exercise of 175,000 Warrants at a price of $1.20, which were also issued pursuant to the Mulgravian Private Placement and remain outstanding.

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