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TORONTO, April 9, 2012 /CNW/ - EPM Mining Ventures Inc. (TSX-V: EPK) ("EPM" or the "Company") today announced that it has granted an aggregate of 925,000 options to officers and employees of the Company. All options are exercisable over a period of five years at a price of $1.04 per common share, which reflects the closing price of EPM on April 4, 2012. One-third of such stock options shall vest on the first anniversary of the date of grant, one-third shall vest on the second anniversary of the date of grant, and one-third shall vest on the third anniversary of the date of grant.
The Company also granted an aggregate of 489,821 options to non-management directors of the Company. All options are exercisable over a period of three years at a price of $1.04 per common share, which reflects the closing price of EPM on April, 4, 2012. All of the stock options shall vest on the anniversary of the date of grant provided that the directors attend 75% of the scheduled board meetings in the subsequent 12 month period. All vested options are exercisable over a period of three years from the date of grant.
The options are granted pursuant to the Company's stock option plan, which was approved by shareholders at a special meeting of shareholders held on October 13, 2011, and is subject to acceptance by the TSX Venture Exchange.
About EPM Mining Ventures
EPM, through its wholly owned subsidiary Peak Minerals Inc., controls mineral leases on more than 100,000 acres on the Sevier Dry Lake property in Millard County, Utah. EPM is targeting the future development and production of Sulfate of Potash (SOP), a premium priced fertilizer used with special crops and soil types, through a cost-effective solar evaporation methodology. The Company is currently engaged in engineering and chemical analysis designed to support the completion of a definitive feasibility study. For more information on the Company, please visit our web site at www.epmmining.com.
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.
For further information:
Chief Executive Officer
(416) 815-0700 ext. 267