TORONTO, May 2 /CNW/ - Elgin Mining Inc. (TSX-V: ELG) ("Elgin" or the
"Company") has announced that its Board of Directors has granted stock
options in an aggregate of 1,050,000 common shares to the Board of
Directors and an Officer of the Company. The stock options were
granted under Elgin's Amended 2008 Stock Option Plan.
The exercise price of the options is $1.74, based on a five day volume
weighted average price. Each stock option entitles the holder to
purchase one common share for a period of five years. The grant is
subject to TSX Venture exchange approval and ratification by
shareholders at the next annual meeting.
Certain information set forth in this press release contains
"forward-looking statements" and "forward-looking information" under
applicable securities laws. Except for statements of historical fact,
certain information contained herein constitutes forward-looking
statements which include the requisite approvals and ratifications for
the grant of the options. Some of the forward-looking statements may be
identified by words such as "expects" "anticipates", "believes",
"projects", "plans", and similar expressions. These statements are not
guarantees of future performance and undue reliance should not be
placed on them. Such forward-looking statements necessarily involve
known and unknown risks and uncertainties, which may cause Elgin's
actual performance and financial results in future periods to differ
materially from any projections of future performance or results
expressed or implied by such forward-looking statements. There can be
no assurance that forward-looking statements will prove to be accurate,
as actual results and future events could differ materially from those
anticipated in such statements. Elgin undertakes no obligation to
update forward-looking statements if circumstances or management's
estimates or opinions should change except as required by applicable
securities laws. The reader is cautioned not to place undue reliance on
Neither TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.
SOURCE Elgin Mining Inc.
For further information:
Elgin Mining Inc.