TSX Venture Exchange
Trading Symbol: CFI
ST JOHN'S, NL, June 14, 2012 /CNW/ - Canada Fluorspar Inc., (TSX-V:CFI)
("CFI" or the "Company") announces that it granted an aggregate total
of 1,750,000 stock options ("Options") and 1,450,000 of such Options
were granted to seven directors and officers of the Company. The
Options were granted on March 5, 2012.
All Options were granted at an exercise price of $0.50 per share, the
closing price of the Company's common shares on the date of grant, and
vest when quantities of fluorspar are available for shipment at the
Company's St. Lawrence Project (as defined in the Company's Management
Discussion & Analysis for the period ended March 31, 2012). The Options
expire on March 4, 2022.
About the Company
The Company is a specialty mineral resource company engaged in the
development of fluorspar deposits located in St. Lawrence,
Newfoundland, Canada, and is reactivating the existing Blue Beach and
Tarefare underground fluorspar mines, expanding the existing mill,
constructing a new, environmentally-sound Tailings Management Facility
through its 50/50 joint venture with Arkema, called Newspar. The
Company is also building a new deep-water marine terminal in the outer
St. Lawrence Harbour for the export of fluorspar concentrate product.
Neither 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 release.
Cautionary Note and Forward-looking statements
This press release contains forward-looking statements which include,
but are not limited to: anticipated timing for completion of
metallurgical testing, the commencement of the drilling program,
current development and operating objectives and outlook, expectations,
opinions, forecasts, projections, guidance or other statements that are
not statements of fact. Although the Company believes that the
expectations reflected in such forward-looking statements are
reasonable, it cannot give any assurance that such expectations will
prove to be correct. Results of the Company may be affected by a
variety of variables and risks associated with mining development
including: loss of market, volatility of commodity prices, currency
fluctuations, imprecision of reserve estimates, environmental risks,
competition from other producers, ability to access sufficient debt and
equity capital from internal and external sources, ability to generate
sufficient cash flow to meet its current and future obligations,
regulatory approvals affecting construction and mining operations. Such
forward-looking statements are also based on a number of assumptions
which may prove to be incorrect, including, but not limited to,
assumptions about the following: the availability of financing for
exploration and development activities, the supply and demand for, and
the level and volatility of the price of fluorspar, the assumptions on
which resource estimates are based, the receipt of necessary permit,
market competition, ongoing relations with employees and impacted
communities, project cost estimates and general business and economic
conditions. Should one or more of the risks or uncertainties involved
in forward-looking statements prove incorrect, actual results may vary
materially from those anticipated, believed, estimated or expected.
Accordingly, readers should not place undue reliance on forward-looking
Forward-looking statements are qualified entirely by this cautionary
statement and are given only as at the date of this press release. The
Company disclaims any obligation to update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise, except as required by law.
SOURCE Canada Fluorspar Inc.
For further information:
President and CEO
Canada Fluorspar Inc.