VANCOUVER, March 3, 2014 /CNW/ - Uracan Resources Ltd. (TSX.V:URC) (the "Company" or "Uracan") reports that pursuant to the Company's Stock Option Plan, a total of 2,860,000 incentive stock options have been granted to directors, officers, and consultants of the Company. The options are exercisable at a price of $0.13 per share for a period of 10 years.
The Company received disinterested shareholder approval at its AGM, which was held on December 3, 2013 and has re-priced a total of 1,240,000 stock options which were previously granted to insiders and consultants of the Company to $0.13 per share. Except for the amendment of the exercise price, all original terms of the stock options will remain in effect.
All of the above is subject to regulatory approval.
Uracan Resources Ltd. (TSX.V:URC, OTC:URCFF) is a Canadian-based exploration company focused on exploring for uranium deposits in Saskatchewan and Quebec, Canada. Since 2006, Uracan has discovered a N.I. 43-101 Indicated Mineral Resource estimate of 7 million lbs U3O8 (21.5 million tonnes at a grade of 140 ppm U3O8 using a 100 ppm cut-off grade) and a N.I. 43-101 Inferred Mineral Resource estimate of 37 million lbs U3O8 (140.6 million tonnes at a grade of 120 ppm U3O8 using a 100 ppm cut-off grade) on its 100%-owned exploration properties in Quebec. Uracan continues to review additional opportunities worldwide to capitalize on management's exploration and financing capabilities.
Technical information in this news release has been reviewed and approved by Marc Simpson, P.Geo., Uracan's Qualified Person as defined by National Instrument 43-101 ("N.I. 43-101") standards.
ON BEHALF OF URACAN RESOURCES LTD.
President & CEO
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: Uracan Resources Ltd.
For further information:
President & CEO