New Frontier Energy, Inc. reported that the board of directors had extended the expiration date for exercising the Company's common stock warrants originally set to expire on February 1, 2008 to May 1, 2008. All other terms of the warrants remain unchanged.
The Company extended warrants to acquire 4,750,803 shares of common stock exercisable at $1.11 per share together with 20.75 units of the placement agent warrants issued in connection with placing the Company's Series B Convertible Preferred stock. The placement agent warrants are exercisable at $13,000 per unit representing 2,698 shares of Series B Preferred Stock, convertible into 415,000 shares of the Company's Common Stock, and warrants to purchase 671,493 shares of Common Stock at $1.11 per share.
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