VANCOUVER, Sept. 6, 2019 /CNW/ - Colorado Resources Ltd. (TSX.V: CXO) ("Colorado" or the "Company") reports that the Board of Directors granted 8,350,000 incentive stock options to directors, officers and consultants of the Company, subject to TSX Venture Exchange acceptance. The options will have a term of 5 years, expiring on September 05, 2024, and vest over a 24-month period. Each option will allow the holder to purchase one common share in the Company at a price of $0.12. Any shares issued on the exercise of these stock options will be subject to a four month hold period from the date of grant.
Colorado Resources Ltd. is currently engaged in the business of mineral exploration for the purpose of acquiring and advancing mineral properties located in the "Golden Triangle and the Toodoggone area" of British Columbia. Colorado's main exploration projects include Castle, KSP, North ROK, Kingpin, Heart Peaks and Sofia.
On behalf of the Board of Directors of Colorado Resources Ltd.
Chief Executive Officer
Cautionary note regarding forward-looking statements
All statements, trend analysis and other information contained in this press release about anticipated future events or results constitute forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as "seek", "anticipate", "believe", "plan", "estimate", "expect" and "intend" and statements that an event or result "may", "will", "should", "could" or "might" occur or be achieved and other similar expressions. All statements, other than statements of historical fact, included herein, including, without limitation, are forward-looking statements. Although Colorado (the "Company") believe that the expectations reflected in such forward-looking statements and/or information are reasonable, undue reliance should not be placed on forward-looking statements since the Company can give no assurance that such expectations will prove to be correct. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements, including the risks, uncertainties and other factors identified in the Companies' periodic filings with Canadian securities regulators. Important factors that could cause actual results to differ materially from Colorado expectations include risks associated with the business of Colorado; risks related to exploration and potential development of Colorado's projects; business and economic conditions in the mining industry generally; fluctuations in commodity prices and currency exchange rates; uncertainties relating to interpretation of drill results and the geology, continuity and grade of mineral deposits; the need for cooperation of government agencies and native groups in the exploration and development of properties and the issuance of required permits; the need to obtain additional financing to develop properties and uncertainty as to the availability and terms of future financing; the possibility of delay in exploration or development programs and uncertainty of meeting anticipated program milestones; uncertainty as to timely availability of permits and other governmental approvals; and other risk factors as detailed from time to time and additional risks identified in Colorado's filings with Canadian securities regulators on SEDAR in Canada (available at www.sedar.com). Forward-looking statements are based on estimates and opinions of management at the date the statements are made. Colorado does not undertake any obligation to update forward-looking statements except as required by applicable securities laws. Investors should not place undue reliance on forward-looking statements.
SOURCE Colorado Resources Ltd.
For further information: Colorado Resources Ltd, T: (250) 768-1511, F: (250) 768-0849, TF: (855) 768-1511, W: www.coloradoresources.com