VANCOUVER, Sept. 11, 2013 /CNW/ - Monument Mining Limited (TSX-V: MMY and FSE: D7Q1) ("Monument" or the "Company") announces the grant of 19,465,501 incentive stock options to its directors, officers, employees and consultants exercisable at $0.33 per share for periods ranging from five to ten years, with vesting periods ranging from zero to two years.
Of the stock options granted, a total of 13,865,501 have been granted under the existing 10% Rolling Stock Option Plan (the "2012 Rolling Plan") including 12,000,000 stock options granted in order to replace the equivalent amount of stock options that expired in August 2013. A total of 27,505,803 common shares are reserved under the 2012 Rolling Plan, leaving 854,302 common shares available for further grant.
The remaining 5,600,000 stock options are granted under a Proposed 15% Fixed Stock Option Plan (the "Proposed Fixed Plan") where a total of 41,258,705 common shares are reserved. Both the 5,600,000 new stock options and the Proposed Fixed Plan are subject to shareholder and TSX Venture Exchange (the "Exchange") approval. Upon implementation of the Proposed Fixed Plan, all existing stock options will be governed by the Proposed Fixed Plan; however, any vesting schedule imposed by the 2012 Rolling Plan in respect of stock options previously granted thereunder will remain in full force and effect. The Company intends to apply for Exchange approval of the Proposed Fixed Plan forthwith, and to seek shareholder approval of the Proposed Fixed Plan and the stock options granted thereunder at the next annual general meeting of the Company.
In accordance with Exchange policies, stock options granted under the Proposed Fixed Plan will not be exercisable unless and until such grants receive shareholder approval. Any person who is granted stock options under the Proposed Fixed Plan will not be entitled to vote his or her shares on the resolution approving such grants of stock options.
Please visit our website at www.monumentmining.com for more information.
Robert F. Baldock, President and CEO
Monument Mining Limited
Suite 910- 688 West Hastings Street
Vancouver B.C. Canada V6B 1P1
"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."
This news release contains forward-looking statements about Monument Mining Limited ("Monument"), its business and future plans. Forward-looking statements are statements that are not historical facts and include the timing of the proposed programs and events. The forward-looking statements in this news release are subject to various risks, uncertainties and other factors that could cause actual results or achievements to differ materially from those expressed or implied by the forward-looking statements. These risks and certain other factors include, without limitation, the estimated cash cost per ounce of gold production and the estimated cash flows which may be generated from the operations, general economic factors and other factors that may be beyond the control of Monument; statements regarding the future price of gold; the estimation of mineral resources; conclusions of economic evaluation (including scoping studies); the realization of mineral resource estimates; the timing and amount of estimated future production, development and exploration; costs of future activities; capital and operating expenditures; success of exploration activities; mining or processing issues; currency exchange rates; government regulation of mining operations; and environmental risks. Generally, forward-looking information can be identified by the use of forward- looking terminology 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 state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to: general business, economic, competitive, geopolitical and social uncertainties; the actual results of current exploration activities; foreign operations risks; other risks inherent in the mining industry and other risks described in the annual information form of the Company, which is available under the profile of the Company on SEDAR at www.sedar.com. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward- looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
SOURCE: Monument Mining Limited
For further information:
visit the company web site at www.monumentmining.com or contact:
Nick Kohlmann, MMY Toronto T: +1-647-478-3594 [email protected]g.com
Richard Cushing, MMY Vancouver T: +1-604-638-1661 x102 [email protected]
Wolfgang Seybold, Axino AG-Europe T: +49 711-2535-92 40 [email protected]