Minera IRL Limited

Minera IRL Limited

November 18, 2013 08:00 ET

Minera IRL Ltd Announces Grant of Options

LONDON, UNITED KINGDOM--(Marketwired - Nov. 18, 2013) - Minera IRL Limited ("Minera IRL" or the "Company") (TSX:IRL) (AIM:MIRL) (BVLAC:MIRL), the Latin American gold mining company, announces that on 15 November 2013 a total of 3,550,000 options over ordinary shares of nil par value in the Company ("Options") were granted to Directors and Executives, pursuant to the Minera IRL Limited Incentive Stock Option Plans ("Plans"), which were re-approved by shareholders on 10 July 2013.

The Options are exercisable at 15.00p per share, which represents a premium of approximately 25 per cent over the closing mid-market price of 12.00p on the AIM market on 15 November 2013, and will vest immediately. The Options shall expire after 5 years from the date of grant and no consideration was paid for the options.

Following the grant, the interests of the Directors are as follows:

Director Options Granted Resultant Option Holding Ordinary Shares Held % Issued Ordinary Share Capital
C C Chamberlain 670,000 2,390,000 3,492,692 1.91
D A Jones 160,000 540,000 322,936 0.18
G D Ross 160,000 490,000 5,000 0.00
N Valdez 160,000 490,000 894,000 0.49

The Plans permits the grant of options up to a maximum of 10 per cent of the total number of ordinary shares in issue. This grant represents options over approximately 1.9 per cent of the current 182,824,225 ordinary shares of the Company in issue. The total number of options granted to date under the Plans which are still outstanding is 12,360,000 representing approximately 6.8 per cent of the total number of ordinary shares in issue.

Minera IRL Limited is the AIM traded, TSX and BVL listed holding company of precious metals mining and exploration companies focused in Latin America. Minera IRL is led by an experienced senior management team with extensive industry experience, particularly operating in South America. The Group operates the Corihuarmi Gold Mine and the advanced gold projects Ollachea in Peru and Don Nicolas in Argentina. For more information, please visit www.minera-irl.com.

The Toronto Stock Exchange neither approves nor disapproves the information contained in this News Release.

Contact Information

  • Minera IRL
    Trish Kent, Vice President, Corporate Relations
    +511 418 1230

    Canaccord Genuity Limited
    (Nominated Adviser & Broker, London)
    Neil Elliot / Emma Gabriel
    + 44 (0)20 7523 8000

    finnCap (Co-broker, London)
    Geoff Nash (Corporate Finance)
    Matthew Robinson (Corporate Finance)
    Elizabeth Johnson (Corporate Broking)
    + 44 (0)20 7600 1658

    RBC Europe Ltd (Co-broker, London)
    Stephen Foss / Martin Eales
    +44 (0)20 7653 4000

    Buchanan (Financial PR, London)
    Bobby Morse / Gordon Poole / Louise Mason
    +44 (0)20 7466 5000