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VANCOUVER, June 14, 2019 /CNW/ - Stuhini Exploration Ltd. (STU.V; the "Company" or "Stuhini") announces that it has granted stock options for a total 380,000 common shares of the Company to officers, directors, employees and consultants of the Company. These stock options are exercisable at CDN $0.20 per stock option and will expire on May 21, 2021, 2 years after the closing of the Company's Initial Public Offering ("IPO"). These stock options were conditionally granted in June of 2018 contingent on the successful closing of an IPO of the Company's common shares for a minimum of 4,000,000 shares and are fully vested. The options are governed by the terms and conditions of the Company's rolling stock option plan.
Following this grant of stock options, the Company has a total of 870,000 employee stock options outstanding representing approximately 8.9% of the outstanding common shares of the Company. This stock option grant is subject to TSX Venture Exchange approval.
Haywood Securities Inc., and members of its selling group for the Company's recent IPO were granted 230,840 non-transferable options exercisable at CDN $.20 per stock option and will expire on May 21, 2021 pursuant to the terms of the IPO Agency Agreement.
About Stuhini Exploration Ltd.
Stuhini is a mineral exploration company focused on the exploration and development of precious and base metals properties with its primary focus on the Metla Property located in northwestern British Columbia, Canada, approximately 150 kilometres south of the town of Atlin, BC.
Forward-Looking Statement Cautions:
This press release contains certain "forward-looking statements" within the meaning of Canadian securities legislation, relating to, among other things, the Company's proposed use of the financing proceeds. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are statements that are not historical facts; they are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "aims," "potential," "goal," "objective," "prospective," and similar expressions, or that events or conditions "will," "would," "may," "can," "could" or "should" occur, or are those statements, which, by their nature, refer to future events. The Company cautions that Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made and they involve a number of risks and uncertainties. Consequently, there can be no assurances that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Except to the extent required by applicable securities laws and the policies of the TSX Venture Exchange, the Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change. Factors that could cause future results to differ materially from those anticipated in these forward-looking statements include, possible, accidents and other risks associated with mineral exploration operations, the risk that the Company will encounter unanticipated geological factors, the possibility that the Company may not be able to secure permitting and other governmental clearances necessary to carry out the Company's exploration plans, the risk that the Company will not be able to raise the additional funds in the future to continue to carry out its business plans, and the risk of political uncertainties and regulatory or legal changes that might interfere with the Company's business and prospects. The reader is urged to refer to the Company's reports, publicly available through the Canadian Securities Administrators' System for Electronic Document Analysis and Retrieval (SEDAR) at www.sedar.com for a more complete discussion of such risk factors and their potential effects.
This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of securities of the Company in any jurisdiction in which such offer, solicitation or sale would be unlawful, including any of the securities in the United States of America. The Company's securities have not been and will not be registered under the United States Securities Act of 1933 (the "1933 Act") or any state securities laws and may not be offered or sold within the United States or to, or for account or benefit of, U.S. Persons (as defined in Regulation S under the 1933 Act) unless registered under the 1933 Act and applicable state securities laws, or an exemption from such registration requirements is available.
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 Stuhini Exploration
For further information: David O'Brien, President & Chief Executive Officer, Telephone (604) 418-4019, Email [email protected]