Vancouver, BC, Canada, June 19, 2015 – Megastar Development Corporation (“Megastar”, the “Company” or “MDV”) (TSX-V: MDV; Frankfurt: M5Q) is pleased to announce that it has received the TSX Venture Exchange (“TSX-V”) consent to extend the terms of certain warrants previously issued, as follows:
Warrants Originally issued July 20, 2011
Number of Warrants: 6,602,765
Original Expiry Date of Warrants: July 20,2013 (previously extended to July 20, 2015) New Expiry date of Warrants: July 20, 2016
Exercise Price of Warrants: $0.135
These warrants were issued pursuant to a private placement of 6,715,265 shares with 6,715,265 share purchase warrants attached, which was accepted for filing by the TSX-V effective July 20, 2011. Insiders hold an aggregate of 262,500 of the 6,602,765 warrants outstanding.
Warrants Originally issued June 1, 2012
Number of Warrants: 11,000,000
Original Expiry Date of Warrants: June 1, 2014 (previously extended to June 1, 2016) New Expiry date of Warrants: June 1, 2017
Exercise Price of Warrants: $0.135
These warrants were issued pursuant to a private placement of 11,000,000 shares with 11,000,000 share purchase warrants attached, which was accepted for filing by the TSX-V effective June 1, 2012. Insiders hold an aggregate of 950,000 of the 11,000,000 warrants outstanding.
The Company will not be issuing new warrants unless the warrant holder provides a written request to the Company. Warrant holders requiring the issuance of a new warrant should do so in writing to the Company at #1450 – 789 W. Pender Street, Vancouver, BC, Canada, V6C 1H2. New warrants will only be issued upon the warrant holder surrendering their original warrant.
For further information, investors and shareholders are invited to visit the Company’s website at www.megastardevelopment.com or call the office at 604-681-1568, or toll free at 1-877-377-6222.
ON BEHALF OF THE BOARD OF DIRECTORS
”DUSAN BERKA”
Dusan Berka, P. Eng. President & CEO
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.