Following along from a comment recently by Vette, it's worth reviewing the company's news release of December 7th (see below). It's very interesting how they have gone to such great trouble to apply to the TSX to extend the terms of their warrants with exercise prices of $1.35 and $1.25.
The open market prices look very attractive in comparison. If I were an insider, I would be trying to scoop up some of bargain basement prices before exercising my warrants:) Time will tell very shortly.
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Copper Fox Announces Warrant Extension
VANCOUVER, Dec. 7, 2012 /CNW/ - Copper Fox Metals Inc. ("Copper Fox" or the "Company") (TSXV: CUU) announces it has applied to the TSX Venture Exchange to extend the terms of warrants to purchase common shares of the Company issued to an insider and control person of the Company pursuant to a December 2011 unit private placement (the "December 2011 Private Placement") and a January 2012 unit private placement (the "January 2012 Private Placement"). The warrants to purchase 3,278,689 common shares issued pursuant to the December 2011 Private Placement (which would have otherwise expired on December 13, 2012) will be extended to expire on December 13, 2013. The warrants to purchase 2,000,000 common shares issued pursuant to the January 2013 Private Placement (which would have otherwise expired on January 30, 2013) will be extended to expire on January 30, 2014.
All other terms and conditions of the warrants issued pursuant to the December 2011 Private Placement and the January 2012 Private Placement, including the respective exercise prices of $1.35 and $1.25, remain unchanged.
The warrant expiry amendments remain subject to final acceptance of the TSX Venture Exchange.
