The Canadian Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the contents hereof.
Snowfield Development Corp. ("Snowfield" or the "Company") has made an application to the TSX Venture Exchange (the "Exchange") to extend the term and reduce the exercise price of a total of 5,487,449 outstanding Share Purchase Warrants ("warrants").
1,462,733 share purchase warrants from Private Placement #32 were originally issued on May 23, 2007 for a period of two years with an exercise price of $0.40 per share during the first year and an exercise price of $0.50 per share during the second year and an expiry date of May 18, 2009. The amended warrants will have an exercise price of $0.10 per share and an expiry date of May 18, 2010.
1,886,666 share purchase warrants from PP#33 were originally issued on July 23, 2007 for a period of two years with an exercise price of $0.40 per share and an expiry date of July 18, 2009. The amended warrants will have an exercise price of $0.10 per share and an expiry date of July 10, 2010.
442,500 share purchase warrants from PP#37 were originally issued on February 11, 2008 for a period of two years with an exercise price of $0.25 per share and an expiry date of January 16, 2010. The amended warrants will have an exercise price of $0.10 per share and an expiry date of February 16, 2011.
1,943,000 share purchase warrants were from PP#38 originally issued on February 25, 2008 for a period of two years with an exercise price of $0.35 per share and an expiry date of February 19, 2010. The amended warrants will have an exercise price of $0.10 per share and an expiry date of February 19, 2011.
All of the amended warrants will be subject to the following forced conversion provision: If the common shares of Snowfield close at greater than $0.13 per share for 10 consecutive trading days ("the Premium Trading Days"), then the warrant holders will be required to exercise the warrants within 30 days, commencing 7 calendar days after the tenth Premium Trading Day or the warrants will expire. Securities issued pursuant to any exercise of the subject warrants will not be subject to a hold period.
ON BEHALF OF THE BOARD
"Robert T. Paterson"
President
SNOWFIELD DEVELOPMENT CORP.
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