Trading Symbol: FTR-TSX:V
VANCOUVER, July 19, 2013 /CNW/ - Firesteel Resources Inc. ("Firesteel" or the "Company") (TSX-V:FTR) is pleased to announce its agreements with directors and
an officer to issue 1,174,000 common shares of the Company ("Common
Shares") and an agreement with a consultant to issue 10,000 shares,
both at a price of $0.08 per Common Share in payment for consulting
services rendered to the Corporation.
In addition Firesteel also announced that an agreement had been reached
to settle in full a dispute over services contracted from Ken Worthing
Contracting on the following terms: $25,000 in cash and $250,000 in
Firesteel shares, valued according to the weighted average volume
trading price of the common shares on the TSX Venture Exchange for the
five days preceding the execution of the agreement.
Firesteel also announces that the Board of Directors has, subject to TSX
Venture Exchange acceptance, granted options to purchase 2,150,000
common shares of the Corporation to its directors. The options were
issued at an exercise price of $0.10 per share for a five year term.
The Corporation had, immediately prior to this grant, 1,235,000
outstanding stock options.
This proposed issuance of Common Shares in payment for services rendered
is subject to the approval of the TSX Venture Exchange. Common Shares
issued in connection with these payments will be subject to a four
month hold period.
Firesteel is a junior mineral exploration company focused on the
exploration and development of quality precious and base metal
prospects in the resource rich Stikine Arch area of British Columbia
and in the NWT and Mexico.
ON BEHALF OF THE BOARD OF DIRECTORS OF
FIRESTEEL RESOURCES INC.
President and CEO
The TSX Venture Exchange does not accept responsibility for the adequacy
or accuracy of this release.
Advisory Regarding Forward Looking Statements
This news release contains forward-looking statements. Users of
forward-looking statements are cautioned that actual results may vary
from forward-looking statements contained herein. Forward-looking
statements include, but are not limited to: expectations, opinions,
forecasts, projections and other similar statements concerning
anticipated future events, conditions or results that are not
historical facts. In certain cases, forward-looking statements can be
identified by the use of words such as "plans", "expects" or "does not
expect", "is expected", "budget", "scheduled", "estimates",
"forecasts", "intends", "anticipates" or "does not anticipate", or
"believes", or variations of such words and phrases or statements that
certain actions, events or results "may", "could", "would", "might" or
"will be taken", "occur" or "be achieved". While the Company has based
these forward-looking statements on its expectations about future
events as at the date those statements were prepared, the statements
are not a guarantee of the Company's future performance.
The Company's forward-looking statements are expressly qualified in
their entirety by this cautionary statement and are made as of the date
of this new release. Unless otherwise required by applicable
securities laws, the Company does not intend nor does it undertake any
obligation to update or review any forward-looking statements for the
Significant Matters to reflect subsequent information, events, results
or circumstances or otherwise.
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SOURCE: Firesteel Resources Inc.
For further information:
For additional information, please contact us at (226) 400-1927