Canadian Warrants - Torex Gold Resources Inc

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Torex Gold Resources Inc

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Address: 145 King St. West, Suite 1502
Toronto, ON
Canada M5H 1J8
Tel: (647) 260 1500
Fax: (416) 640 2011

Warrant Symbol - TXG.WT
Number Trading - 63,485,803
Expiration Date - November 12, 2011
Cusip - 37357 12 4
Exercise Price - $1.30

Warrants called to trade news:

Gleichen name change to Torex Gold

2010-04-30 17:38 MT - Change Name
TSX bulletin 2010-0495
The name of the company (symbols: GRL, GRL.WT) has been changed to Torex Gold Resources Inc. At the opening on Tuesday, May 4, 2010, trading will continue in the common shares and warrants under the new name, new stock symbol and new Cusip numbers listed below:

Common shares:

Symbol: TXG
Cusip: 891054 10 8

Warrants:

Symbol: TXG.WT
Cusip: 891054 11 6

Gleichen to list on TSX Feb. 24

2010-02-22 17:16 MT - New Listing
TSX bulletin 2010-0214
An application has been granted for the original listing in the mining category of 433,862,008 common shares of the company, of which 337,647,455 common shares will be issued and outstanding, and 96,214,553 common shares will be reserved for issuance.

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An application has also been granted for the listing of 64,089,553 common share purchase warrants, of which 63,485,803 warrants are issued and outstanding, and 603,750 warrants are reserved for issuance. Each warrant entitles the holder to purchase one common share of the company at a price of $1.30 per warrant share at any time prior to 5 p.m. (Toronto time) on Nov. 12, 2011. The warrants were sold pursuant to a private placement of special warrants on Nov. 12, 2009, at $1 per special warrant. Each special warrant was exercised, for no additional consideration into one common share of the company and one-half warrant and these common shares and warrants become freely transferable pursuant to a prospectus dated Jan. 14, 2010.

The common shares and warrants will be listed and posted for trading at the opening on Wednesday, Feb. 24, 2010.

The company is subject to the reporting requirements of Section 501 of the TSX company manual.

Common shares:

Stock symbol: GRL
Cusip: 377357 10 8
Trading currency: Canadian

Warrants:

Stock symbol: GRL.WT
Cusip: 37357 12 4
Trading currency: Canadian
Temporary market-maker: GMP Securities LP

Other markets: The common shares are currently listed on the TSX Venture Exchange under the symbol GRL. The common shares will be delisted from TSX-V on Feb. 24, 2010, upon commencement of trading on TSX.

Incorporation: The company was incorporated under the Company Act of British Columbia on Nov. 13, 1980, under the name Pulsar Energy & Resources Inc. The company filed notices of amendment on: (i) Nov. 30, 1987, to change its name to Star One Resources Inc.; (ii) June 26, 1989, to change its name to Hyder Gold Inc.; and (iii) Aug. 3, 2006, to change its name to Gleichen Resources Ltd.

Fisal year-end: Oct. 31

Nature of business: The company is a Canadian-based gold exploration company engaged in the acquisition, exploration and development of mineral properties. The company's principal asset is a 78.8-per-cent interest in the Morelos project in Mexico and has exercised a right of first refusal to buy the remaining 21.2 per cent.

Transfer agent and registrar: Computershare Investor Services Inc., Toronto

Dividends: The company has not paid any cash dividends or made other distributions on its common shares to date. There are no restrictions on the ability of the company to pay dividends except as set out under its corporate statute. Any future dividend payments or distributions will be made at the discretion of the board and will depend on the company's financial needs to finance its exploration program and its future growth, and any other factors that the board deems necessary to consider in the circumstances.

Prospectus offering: Pursuant to a short-form prospectus dated Feb. 16, 2010, 50 million common shares are being sold to the public by Macquarie Capital Markets Canada Ltd., BMO Nesbitt Burns Inc., GMP Securities LP, Dundee Securities Corp. and Jones, Gable & Company Ltd., as underwriters, at a price of $1 per common share, for gross proceeds of $50-million. The offering is scheduled to close before the markets open on Wednesday, Feb. 24, 2010.

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Warrant Terms

Expiration Date: The last day the warrants can be exercised. If warrants aren't going to be exercised then they must be sold the day before the expiry date. The longer the time to expiry the more valuable the warrants.

Leverage: A measure of how much you can increase your exposure to a share if you bought warrants instead of making a direct investment. It is the current share price divided by the current price of the warrant.

Intrinsic Value: The difference between the exercise price and the actual trading price of the common stock. Once the common has gone over the exercise price, the warrants are "In the Money."

Volatility: The higher the volatility rating, the higher the price of the warrant. Historical volatility is calculated by using the standard deviation of an underlying stock price over a specific period.

Time Value: The difference between the current warrant price and its intrinsic value. Interpreted as the consideration paid for the advantage the warrant buyer has over the direct investor.

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