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News Releases
February 11, 2003
STOCK OPTIONS
Toronto, Ontario – AXMIN Inc. (AXM-TSX Venture) announces the grant of the following stock options to the newly appointed Chairman and Deputy Chairman of the Company. These stock options have been granted pursuant to the terms of the Company’s 2001 Stock Option Plan (the “Plan”) approved by the shareholders on November 19, 2001. A total of 7,369,862 common shares are reserved for grant pursuant to the Plan.
|
Name of option
holder |
Relationship to AXMIN |
Number of stock options granted |
Exercise price |
Expiry date |
| |
|
|
|
|
| Jean Claude Gandur |
Chairman & Director |
500,000 |
Cdn$0.34 |
January 17,2007 |
| Michael Martineau |
Deputy Chairman, President & Director |
125,000 |
Cdn$0.34 |
January 17, 2007 |
|
|
One-third of the above stock options shall vest on each of the 12 month, 24 month and 36 month anniversaries of the date of grant. Each stock option gives the option holder the right to purchase one common share of the Company. The stock options granted are subject to acceptance by the TSX Venture Exchange.
Both Jean Claude Gandur and Michael Martineau were involved in the successful development of SAMAX Gold Inc. which was sold to Ashanti Goldfields Company Limited for Cdn$213 million in 1998. Mr. Gandur is a founding member and the Chairman of The Addax & Oryx Group Limited, an integrated African oil business with annual revenues exceeding US$3 billion. Dr. Martineau is a director of several resource companies including Ashanti Goldfields Company Limited and Eurasia Mining PLC. Together Mr. Gandur and Dr. Martineau bring extensive business and political experience of operating in Africa.
In addition AXMIN announces the exercise of 55,000 stock options by a former Director of the Company. These stock options entitled the option holder to purchase one common share of the Company at a price of Cdn$0.25. As a result of this exercise 55,000 common shares have been issued for total proceeds of Cdn$13,750.
Immediately following the aforementioned grant and exercise of stock options AXMIN has a total of 5,280,000 stock options outstanding of which 4,800,000 have been granted pursuant to the Plan. AXMIN has a total of 72,770,851 common shares issued and outstanding.
AXMIN is a mineral exploration company with a strong focus on gold in highly prospective properties across Africa, principally in the Central African Republic, Burkina Faso and Mali.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this press release.
For additional information please contact: |
Mario Caron
President & CEO
Direct T: 416 304 6608
Judy Webster
Manager Investor Relations
T: 416 368 0993
ir@axmininc.com |
This press release includes certain "Forward-Looking Statements." All statements, other than statements of historical fact, included herein, including without limitation, statements regarding potential mineralization and reserves, exploration results and future plans and objectives of AXMIN, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from AXMIN’s expectations are disclosed under the heading "Risk Factors" and elsewhere in AXMIN documents filed from time-to-time with the TSX Venture and other regulatory authorities.
Mario Caron
President & CEO
Direct T: 416 304 6608
Judy Webster
Manager Investor Relations
T: 416 368 0993
ir@axmininc.com |
This press release includes certain "Forward-Looking Statements." All statements, other than statements of historical fact, included herein, including without limitation, statements regarding potential mineralization and reserves, exploration results and future plans and objectives of AXMIN, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from AXMIN’s expectations are disclosed under the heading "Risk Factors" and elsewhere in AXMIN documents filed from time-to-time with the TSX Venture and other regulatory authorities. |
