VAL-D'OR, QUÉBEC, CANADA--(Marketwire - Sept. 21, 2012) - Metanor Resources Inc. ("Metanor") (TSX VENTURE:MTO) announces the granting of stock options to its employees, directors and officers under its Stock Option Plan.
By resolution of the Board of directors dated of September 14, 2012, options regarding a total of 6,165,000 reserved shares were granted in favor of employees, directors and officers.
Options regarding 155,000 reserved shares in favor of employees were cancelled. The exercise price of these options were as follows : 65,000 at $0.32, 15,000 at $0.34, 15,000 at $0.49, 15,000 at $0.50, 15,000 at $0.56, 15,000 at $0.59 and 15,000 at $0.82. The term of the options cancelled was ten years.
The options granted in favor of Metanor' employees regard a total of 790,000 reserved shares. These options were granted at an exercise price of $0.25, for a duration of five years and will be vested gradually in a proportion of 25% for each of the next six months, starting on the granting date.
The options granted in favor of directors and officers regard a total of 5,375,000 reserved shares. These options were granted at an exercise price of $0.25 and will have a duration of ten years.
Metanor is a Canadian based gold mining company with a focus on adding value per share through efficient production, exploration, and development of it properties. Maintaining a low risk profile through a strong operating team, sound financial management, and operating in secure jurisdictions like Quebec are key priorities for Metanor's management team.
Cautionary Language and Forward-Looking Statements
This press release includes certain statements that may be deemed "forward-looking statements". All statements in this discussion, other than statements of historical facts, that address future exploration drilling, exploration activities, anticipated metal production, internal rate of return, estimated ore grades, commencement of production estimates and projected exploration and capital expenditures (including costs and other estimates upon which such projections are based) and events or developments that the Company expects, are forward looking statements. Although the Company believes the expectations expressed in such forward looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include, metal prices, exploration successes, continued availability of capital and financing, and general economic, market or business conditions. Accordingly, readers should not place undue reliance on forward-looking statements.
226,639,754 outstanding shares
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