CB Gold Inc. Announces Amendment of Existing Options and Issue of New Options
29 Mayo 2014 - 6:42PM
Marketwired
CB Gold Inc. Announces Amendment of Existing Options and Issue of
New Options
VANCOUVER, BC--(Marketwired
- May 29, 2014) - CB Gold Inc. (TSX-VENTURE: CBJ) ("CB Gold" or the "Company")
announces that its Board of Directors, subject to TSX Venture
Exchange approval, has approved the re-pricing of 825,000 incentive
options for non-insiders ("the Options").
The amendment of the exercise price of the Options held by
employees and key consultants, to an exercise price of $0.12 per
common share (the "Option Amendment") will be submitted to the TSX
Venture Exchange for approval. None of the options subject to
amendment are held by directors or officers of the Company.
Prior to the receipt of TSX Venture Exchange approval, none of
the Options may be exercised at the amended price.
Also, the Board of Directors has approved the issuance of
3,250,000 incentive options to directors, advisory board members
and officers of the Company. The options have been issued under the
Company's existing Stock Option Plan, have an exercise price of
$0.12 and are exercisable for a period of five years.
The amendment of the exercise price of the Options and the issue
of new Options is being implemented to ensure that the objectives
of the Company's stock options plan are fulfilled, including the
retention of key consultants who have accepted reduced market rate
for services demonstrating an acknowledgement of the need for
restraint at this time and assisting in the preservation of the
Company's cash resources while maintaining a focus on the long term
objectives of the Company and its shareholders.
About CB Gold Inc.:
CB Gold is a mineral exploration company headquartered in
Vancouver, British Columbia. CB Gold, through its wholly-owned
subsidiary, Leyhat Colombia Sucursal, is actively pursuing the
exploration and development of mineral properties in the Republic
of Colombia. The Vetas Gold Project consists of a number of
existing mines (operations currently suspended) and exploration
concessions.
Cautionary Note Regarding Forward-Looking Statements
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 news release.
The securities of CB Gold described herein have not been and
will not be registered under the United States Securities Act of
1933, as amended (the "U.S. Securities Act") or any
state securities laws and may not be offered or sold within the
United States or to U.S. Persons unless registered under the U.S.
Securities Act and applicable state securities laws or an exemption
from such registration is available.
Some of the statements contained in this release are
forward-looking statements, such as the expected use of proceeds
and estimates and statements that describe the Company's future
plans, objectives or goals, including words to the effect that the
Company or management expects a stated condition or result to
occur. Since forward-looking statements address future events and
conditions, by their very nature, they involve inherent risks and
uncertainties. Actual results in each case could differ materially
from those currently anticipated in such statements.
CB GoldFabio CapponiCEO+1 (604)
630-5870info@cbgoldinc.comwww.cbgoldinc.com
CB Gold Inc. (TSXV:CBJ)
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