UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
March 14, 2006
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Date of Report (Date of earliest event reported)
LIONS PETROLEUM INC.
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(Exact name of registrant as specified in its charter)
Delaware 000-30285 N/A
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(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
600 17th Street, Suite 2800 South, Denver, Colorado 80202
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (720) 359-1604
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[ ] Written communications pursuant to Rule 425 under the Securities
Act (17 CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange
Act (17 CFR 240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under
the Exchange Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under
the Exchange Act (17 CFR 240.13e-4 ))
Section 8 - Other Events
Item 8.01 Other Events
On February 9, 2005, Lions Petroleum Inc. ("Lions") issued special warrants to
its shareholders to effectively spin-off the operations of Pure Energy Visions
Corporation, formerly Energy Ventures Inc. (Canada) ("Pure Energy Canada").
The special warrants provided for an expiration date of the earlier of the
date of issuance of a receipt by the Ontario Securities Commission for a final
prospectus of Pure Energy Canada related to the underlying common shares of
the special warrants, or the date 18 months from the September 20, 2004 date
of issuance, which is March 20, 2006.
On March 14, 2006, Lions' board of directors adopted and approved the
amendment of the expiry date of the special warrants to the earlier of:
.. the date of issuance of a receipt by the Ontario Securities Commission
for Pure Energy Canada's final prospectus related to the common shares of
Pure Energy Canada to be distributed upon exercise of the special
warrants; and
.. the date that is 21 months from the September 20, 2004 date of issuance
of the special warrants, which is April 20, 2006.
The special warrants were issued in September 2004 and one special warrant was
granted to each Lions shareholder for each share of Lions common stock then
held by that shareholder. Each special warrant entitled the holder to
acquire, without any additional consideration, common shares of Pure Energy
Canada. Each special warrant entitles the holder to acquire one (1) common
share of Pure Energy Canada for each one (1) common share of Lions held by the
shareholder.
Lions' board of directors approved the amendment of the expiration date to
allow Pure Energy Canada sufficient time to satisfy additional information
requests from the Ontario Securities Commission related to the preliminary
prospectus that it filed with that commission.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
LIONS PETROLEUM INC.
/s/ Dale M. Paulson
Date: April 5, 2006 By: ______________________________________
Dale M. Paulson, President