Goldstrike Resources Ltd.

Goldstrike Resources Ltd.

June 25, 2014 07:45 ET

Goldstrike Grants Options, Proposes Option Amendments

VANCOUVER, BRITISH COLUMBIA--(Marketwired - June 25, 2014) - Goldstrike Resources Ltd. (TSX VENTURE:GSR)(PINKSHEETS:APRAF)(FRANKFURT:KCG1) has granted incentive stock options exercisable to purchase up to an aggregate of 1,700,000 shares of the Company to directors and officers of the Company. All of the options are exercisable at the price of $0.20 per share until June 23, 2024 subject to earlier termination in accordance with their terms. All option grants are subject to acceptance by the TSX Venture Exchange. Shares issued pursuant to the exercise of such options will not be subject to resale restrictions.

The Company's Board has also approved the amendment of 1,790,000 incentive options previously granted to consultants of the Company and 3,150,000 incentive options previously granted to directors and officers of the Company by reducing the exercise prices of those options to $0.20 from $0.40 (as to 650,000 options), $0.70 (as to 3,440,000 options) and $0.75 (as to 850,000 options). There will be no extension of the exercise periods of those options.

The proposed re-pricing of options held by insiders was approved by "disinterested shareholder" vote at the Company's Annual General Meeting held on December 18, 2013 - i.e. votes cast at the meeting excluding votes attached to shares beneficially owned by insiders to whom options may be granted under the Company's stock option plan or associates of such persons. The proposed re-pricing remains subject to acceptance by the TSX Venture Exchange, and none of the options proposed to be re-priced may be exercised on the amended terms prior to acceptance of the proposed amendments by the TSX Venture Exchange.


Terrence E. King, President and Chief Executive Officer

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.

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