VANCOUVER, July 16, 2019 /CNW/ - PRIZE MINING CORPORATION ("Prize" or the "Company") (TSXV:PRZ) (OTCQB:PRZFF) (MQSP:GR:FRANKFURT) announces that the Company has appointed Mr. Dino Minichiello to the Company's Board of Directors. The Company is also, subject to regulatory approval, awarding options to directors, officers, employees and consultants to the company.
"We are pleased to have Mr. Minichiello join the Prize board as an independent director," stated Michael McPhie, President & CEO of Prize Mining. "His many years of raising capital and translating that into business success will be of real value to the future of the company."
"I look forward to working with the Prize team to create value for shareholders," said Dino Minichiello.
Mr. Minichiello is a venture capitalist and entrepreneur, and founder and co-founder of several apparel companies and investment companies. Mr. Minichiello notably was the founder and CEO of Triumph Capital, a Canadian private equity and investment banking firm that combines capital support with hands-on executive consultation, raising millions of dollars in the private space.
Grant of Options
The Company announced today that, subject to regulatory approval, it has granted a total of 6,700,000 options to purchase common shares of the Corporation (the "Options") to certain directors, officers, employees and consultants of Prize in accordance with the Company's 10% rolling stock option plan. The Options have an exercise price of $0.05 per common share and an expiry date of July 16, 2024. A total of 157,735,565 common shares of the Corporation are now issued and outstanding.
Of the Options granted above, 5,400,000 Options were granted to directors and officers of Prize. Prize has determined that there are exemptions available from the various requirements of TSX Venture Policy 5.9 and Multilateral Instrument 61-101 for the issuance of these options (Formal Valuation – Issuer Not Listed on Specified Markets; Minority Approval – Fair Market Value Not More Than $2,500,000).
About Prize Mining Corp.
Prize is a junior mining issuer listed on the TSX Venture Exchange. Prize is focused on the exploration and development of the Manto Negro Copper Property in Mexico and the Kena Gold Property in BC. Find out more at: www.prizemining.com
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Forward-Looking Statements. This news release contains forward-looking statements. Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate", "scheduled", "potential", or other similar words, or statements that certain events or conditions "may", "should" or "could" occur.
The reader is cautioned that assumptions used in the preparation of such information, although considered reasonable by the Company at the time of preparation, may prove to be incorrect and readers are cautioned not to place undue reliance on forward-looking information, which speaks only as of the date hereof. The Company does not undertake any obligation to release publicly any revisions to forward-looking information contained herein to reflect events or circumstances that occur after the date hereof or to reflect the occurrence of unanticipated events, except as may be required under applicable securities laws.
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.
SOURCE Prize Mining Corporation
For further information: Michael McPhie, President and CEO, Tel. 604-336-1327, [email protected]