Azarga Metals Grants Options - Issues Bonus Shares
AZARGA METALS CORP. ("Azarga" or the "Company") (TSX-V:AZR) report that for the first time since November 2012, the directors of Azarga today granted a total of 2,000,000 incentive stock options of the capital stock of the Company to directors, officers, employees and consultants exercisable for up to a five year period at an exercise price of $0.20. The options granted are pursuant to Azarga’s shareholder approved stock option plan and will vest as to one-third in six months, twelve months and eighteen months.
In addition, subject to the approval of the TSX Venture Exchange, the directors today issued a one-time bonus of up to 400,000 common shares to the President and CEO and up to 100,000 common shares to the CFO in recognition of their extraordinary efforts for the Company. The shares are valued at $0.20 per share and, providing the employment of each of them continues during the vesting period, will be issued in the same one-third vesting schedule as the stock options.
About Azarga Metals Corp.
Azarga is a mineral exploration and development company that owns 60% of the Unkur Copper-Silver Project in the Zabaykalsky province in eastern Russia.
AZARGA METALS CORP.
Dorian L. (Dusty) Nicol, President and CEO
For further information please contact: Doris Meyer, at +1 604 536-2711 ext 6, or visit www.azargametals.com.
Neither the 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.