The Company also announces that it has granted 1,700,000 incentive stock options to directors, officers, employees, and consultants of the Company. All such options will have a term of five years at an exercise price of $0.10 per share and will be governed by the terms and conditions of the Company’s stock option plan.
The Company also announces that, subject to regulatory approval from the TSX Venture Exchange, it will be settling $6,000 of debt by issuing 120,000 units (“Units”) at $0.05 per Unit, each Unit consisting of 1 common share of the Company and 1 common share purchase warrant (“Warrant”), each Warrant being exercisable at $0.10 for a period of 24 months. All securities issued will be subject to a four-month hold period.
Technical information in this news release has been reviewed and approved by Dr. Scott Jobin-Bevans (P.Geo.), Vice President Exploration and a Director of White Metal, who is a Qualified Person under the definitions established by the National Instrument 43-101.
About White Metal Resources Corp (TSX-V: WHM):
White Metal Resources Corp. is a junior exploration company exploring in Canada. For more information please visit the Company’s website at www.whitemetalres.com.
On behalf of the Board of Directors of White Metal Resources Corp.
Michael Stares, Director
For further information contact:
684 Squier Street
Thunder Bay, Ontario, Canada, P7B 4A8
Phone: (807) 628-7836 Fax: (807) 475-7200