SASKATOON, July 30 /CNW/ - Titan Uranium Inc ("Titan" or the "Company") (TSX-V:TUE, FSE:T4X) is pleased to announce that the Company has granted a total of 2,675,000 options to acquire common shares in the capital of Titan to certain directors, officers, consultants and employees of the Company, pursuant to the Company's stock option plan. The options are exercisable into common shares of Titan at a price of $0.155 per share, vesting immediately and expiring three years from the grant date.
495,000 of the options were granted to insiders who had options that were cancelled within the previous twelve months and pursuant to TSX Venture Exchange policies the new options are considered to be amendments of the previously cancelled options. In accordance with the requirements of the TSX Venture Exchange, the Company will seek approval of disinterested shareholders at its next Annual General Meeting for these amendments and approval of the TSX Venture Exchange as may be required.
About Titan Uranium Inc.
Titan Uranium's vision is to be a leading mid-tier North-American uranium exploration, development and mining company. Our mission is to create shareholder value by advancing quality projects to production.
Our growth strategy is driven by three elements:
- Development: A pre-feasibility study has been completed at the Sheep Mountain Uranium Project, Wyoming. The deposit contains a NI 43-101 compliant probable reserve of 14.2M lbs. of U3O8 (6,393,000 tons at 0.111% eU3O8).
- Exploration: The goal is to discover world class uranium deposits by exploring over 1.5M acres of land in the proven Athabasca and prospective Thelon Basins. Exploration programs are also active in Utah and Wyoming.
- Consolidation: The Company is actively pursuing M & A opportunities and focused on uranium-friendly jurisdictions such as Saskatchewan and Wyoming.
Titan has gained market recognition for its ability to attract strategic partners to participate in the exploration of its properties. Japan Oil, Gas and Metals National Corporation and Mega Uranium Ltd. are partners in current exploration programs managed by Titan.
Titan is well-financed and ideally positioned to emerge as a pre-eminent player in the uranium industry.
ON BEHALF OF TITAN URANIUM INC.
Brian A. Reilly, President
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.
No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. This News Release includes certain "forward-looking statements". All statements other than statements of historical fact, included in this release, including, without limitation, statements regarding potential mineralization and reserves, exploration results, and future plans and objectives of Titan Uranium, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from Titan Uranium's expectations are exploration risks detailed herein and from time to time in the filings made by Titan Uranium with securities regulators.
SOURCE TITAN URANIUM INC.
For further information: For further information: Investor Relations, Titan Uranium Inc., Phone: 306-651-2405 or 604-925-1810, Facsimile: 306-651-5105, Email: email@example.com, www.titanuranium.com