VANCOUVER, Jan. 23, 2012 /CNW/ - Mediterranean Resources Ltd. (TSX: MNR)
(Frankfurt: MHM1) (the "Company") advises that it has granted 300,000
incentive stock options to its Chairman and 100,000 stock options to
its Corporate Secretary, each option exercisable at $0.17 per share for
a period of two years and vesting immediately. This will bring the
total number of options outstanding to 4,315,000 (representing under
10% of the Company's issued and outstanding common shares pursuant to
the Company's stock option plan). The grant of options is subject to
the provisions of the Company's stock option plan, the policies of the
Toronto Stock Exchange and applicable securities laws.
Mediterranean Resources is focused on an emerging mineral region in
north-eastern Turkey where it is developing two advanced exploration
stage gold properties.
On behalf of the Board of Directors,
President and CEO
Neither Toronto Stock Exchange nor its Regulation Services Provider (as
that term is defined in the policies of the Toronto Stock Exchange)
accepts responsibility for the adequacy or accuracy of this release.
This news release shall not constitute an offer to sell or the
solicitation of an offer to buy securities of the Company in any
jurisdiction. The securities to be issued pursuant to the Unit Offering
by the Company have not and will not be registered under the United
States Securities Act of 1933, as amended (the "1933 Act"), or the
securities laws of any state of the United States, and may not be
offered or sold in the United States absent registration or an
applicable exemption therefrom under the 1933 Act and the securities
laws of all applicable states.
Certain information set out in this News Release constitutes
forward-looking information, which may include information relating to
the exploration and development of the Company's properties.
Forward-looking statements (often, but not always, identified by the
use of words such as "expect", "may", "could", "anticipate" or "will"
and similar expressions) may describe expectations, opinions or
guidance that are not statements of fact and which may be based upon
information provided by third parties. Forward-looking statements are
based upon the opinions, expectations and estimates of management of
the Company as at the date the statements are made and are subject to a
variety of known and unknown risks and uncertainties and other factors
that could cause actual events or outcomes to differ materially from
those anticipated or implied by such forward-looking statements. Those
factors include, but are not limited to risks, uncertainties and other
factors that are beyond the control of the Company, risks associated
with the industry in general, commodity prices and exchange rate
changes, operational risks associated with exploration, development and
production operations, delays or changes in plans, risks associated
with the uncertainty of reserve estimates, health and safety risks and
the uncertainty of estimates and projections of production, costs and
expenses. In light of the risks and uncertainties associated with
forward-looking statements, readers are cautioned not to place undue
reliance upon forward-looking information. Although the Company
believes that the expectations reflected in the forward-looking
statements set out in this press release or incorporated herein by
reference are reasonable, it can give no assurance that such
expectations will prove to have been correct. The forward-looking
statements of the Company contained in this press release, or
incorporated herein by reference, are expressly qualified, in their
entirety, by this cautionary statement.
SOURCE Mediterranean Resources Ltd.
For further information:
President and CEO