Total Shares Outstanding: 22.2 MM
Fully Diluted: 29.2 MM
SUDBURY, ON, Jan. 16, 2012 /CNW/ - Transition Metals Corp. (TSX-V: XTM) ("Transition Metals" or the "Company") has granted a total of 505,000 incentive stock options to directors and
employees of the Company pursuant to the Company's stock option plan.
The options are exercisable for a period of five years at a price of
$0.40 per share and are subject to the approval of the TSX Venture
Exchange. The options and the shares issuable upon exercise shall be
subject to a four-month hold period from the date of the grant of the
options. This grant replaces the previous grant announced on August 25,
About Transition Metals Corp
Transition Metals is a public mining exploration company listed on the
Toronto Venture Exchange (TSX) under the trading symbol - XTM.V. It is
focused on the identification, exploration and development of new gold
opportunities in established and emerging gold districts in Canada. The
Company currently owns or controls an interest in six early stage gold
exploration properties in Ontario and British Columbia. The Company is
committed to building shareholder value through the identification and
development of new low cost, high quality exploration projects while
minimizing shareholder dilution through funding partnerships and
revenue generating opportunities.
Neither the 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 on Forward-Looking Information
Except for statements of historical fact contained herein, the
information in this news release constitutes "forward-looking
information" within the meaning of Canadian securities law. Such
forward-looking information may be identified by words such as "plans",
"proposes", "estimates", "intends", "expects", "believes", "may",
"will" and include without limitation, statements regarding estimated
capital and operating costs, expected production timeline, benefits of
updated development plans, foreign exchange assumptions and regulatory
approvals. There can be no assurance that such statements will prove to
be accurate; actual results and future events could differ materially
from such statements. Factors that could cause actual results to differ
materially include, among others, metal prices, competition, risks
inherent in the mining industry, and regulatory risks. Most of these
factors are outside the control of the Company. Investors are cautioned
not to put undue reliance on forward-looking information. Except as
otherwise required by applicable securities statutes or regulation, the
Company expressly disclaims any intent or obligation to update publicly
forward-looking information, whether as a result of new information,
future events or otherwise.
No securities regulatory authority has either approved or disapproved of
the contents of this news release. The securities being offered have
not been, and will not be, registered under the United States
Securities Act of 1933, as amended , or any state securities laws, and
may not be offered or sold in the United States unless pursuant to an
exemption there from. This press release is for information purposes
only and does not constitute an offer to sell or a solicitation of an
offer to buy any securities of Transition Metals in any jurisdiction.
SOURCE Transition Metals Corp.
For further information:
Further information is available on the Company's website at: www.transitionmetalscorp.com or contact:
President and CEO
Transition Metals Corp.
Tel: (705) 669-0590
(416) 815-0700 - extension 267