Earthworks proposes extension of warrant expiry dates and reduction of exercise price

April 16, 2012

Earthworks Industries Inc. has proposed the extension of the expiry dates of 1,535,000 outstanding share purchase warrants from April 30, 2012 to October 31, 2012. Each warrant entitles the purchase of one additional voting common share of Earthworks. The warrants are exercisable at $0.60 per share and it is proposed that the exercise price be reduced to $0.50 per share.

The extension proposal is subject to acceptance for filing by the TSX Venture Exchange.


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