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Vancouver, BC -- Cypress Development Corp. (TSX-V: CYP) (FWB: C1Z) announces that it will make an application with the TSX Venture Exchange to extend the exercise period of a total of 7,000,000 share purchase warrants for a further three year term.
The share purchase warrants are comprised of 3,000,000 warrants issued in connection with 3,000,000 Unit private placement which closed on February 28, 2007 and are currently exercisable at a price of $0.235 per warrant share until February 28, 2009 and 4,000,000 warrants issued to Goldcorp Inc. in connection with a private placement which closed on April 27, 2007 and are currently exercisable at a price of $1.30 per warrant share until April 27, 2009. Upon receipt of TSX Venture Exchange acceptance, the 3,000,000 warrants will expire after the close of business on February 28, 2012 and the 4,000,000 warrants will expire after the close of business on April 27, 2012.
About Cypress Development Corp.
Cypress Development Corp. is a diversified precious and base metal exploration and development company with properties in Red Lake, Ontario, Canada and in Nevada, U.S.A.
ON BEHALF OF THE BOARD OF DIRECTORS
"Don Huston"
DON HUSTON
President |
