Southern Arc Announces Re-pricing of Stock Options
April 01 2014 - 5:00PM
Marketwired
Southern Arc Announces Re-pricing of Stock Options
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Apr 1, 2014) -
Southern Arc Minerals Inc. (TSX-VENTURE:SA) (OTCQX:SOACF)
("Southern Arc" or the "Company") reports that pursuant to the
Company's stock option plan, it has agreed to re-price 7,935,000
incentive stock options issued to certain directors, officers,
employees and consultants of the Company. The options were
originally granted with exercise prices ranging from $0.25 to
$2.00, and the Company will reduce the exercise price to $0.10.
Except for the amendment of the exercise price, all original terms
of the options will remain in effect.
The amendment to the exercise price is subject to the approval
of the TSX Venture Exchange. The Company intends to obtain
disinterested shareholder approval for the amendment to the
exercise price of the stock options granted to insiders at the
Company's 2014 annual general meeting. Insiders may not exercise
options at the new price until such approval is obtained.
On behalf of the Board of Southern Arc Minerals Inc.
John Proust, Chairman & Chief Executive Officer
About Southern Arc
Southern Arc Minerals Inc. is a Canadian mineral exploration
company focused on gold and copper-gold exploration. The Company is
advancing two properties in Indonesia: West Lombok, a
resource-stage property with several gold-rich copper porphyry and
epithermal gold vein prospects, and East Elang, a grassroots
exploration property that will be advanced in partnership with Vale
International SA. Southern Arc also owns 25% of Eagle Hill
Exploration, which owns the high-grade Windfall Lake Gold Project
in Quebec, Canada. More information is available at
www.southernarcminerals.com.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as such term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Forward-looking Statements
This news release contains forward-looking statements
relating to expected or anticipated future events or results that
are forward-looking in nature and, as a result, are subject to
certain risks and uncertainties. In particular, this news release
contains forward-looking statements and assumptions pertaining to
the granting of shareholder and regulatory approvals, the timing
for receipt of shareholder and regulatory approvals, and the
Company's ability to execute and implement future plans. Actual
results achieved may vary from the information provided herein as a
result of numerous known and unknown risks and uncertainties,
including general economic, market and business conditions, the
regulatory process and actions, technical issues, new legislation,
potential delays or changes in plans, the occurrence of unexpected
events and other factors.
Southern Arc Minerals Inc.Rhylin BailieVice President,
Communications & Investor
Relations604-676-5241info@southernarcminerals.comwww.southernarcminerals.com
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