Grant of Options by Lamelee
04.12.2014 | Marketwire
MONTREAL, Dec. 4, 2014 - Lamêlée Iron Ore Ltd. ("Lamêlée" or the "Company") (TSX VENTURE:LIR) is pleased to announce that, in accordance with its current stock option plan, the Board of Directors has granted options to the following officers of the Company in connection with their outstanding contribution in reaching the Company's 2014 milestones:Hubert Vallée 200,000
Marc Duchesne 100,000
Pascal Vallée 100,000
Ghislain Arel 100,000
All the options are exercisable for a period of 10 years at an exercise price of $0.05.
About Lamêlée Iron Ore Ltd.
The Company is a new iron ore mineral exploration company focused on the development of an iron mine project located in the southern segment of the Labrador Trough near the border with Newfoundland and Labrador, approximately 50 km south of the city of Fermont (Quebec). The project consists of 29 mineral claims covering 1,524 hectares or 15 km2. The common shares are listed on the TSX-V under the symbol "LIR". In December 2013, the Company acquired 100% of Fancamp Exploration's Lac Lamêlée South Iron Project located in the Fermont Mining District of northeastern Quebec, subject to a 1.5% Net Smelter Return royalty in favour of the Sheridan Platinum Group Ltd., of which 0.5% is subject to a buy-back option by the Company for $1.5 million. The Company also granted an additional 1.5% Net Smelter Return royalty in favor of Fancamp Exploration on the Lac Lamêlée South Iron Project, of which 0.5% is subject to a buy-back option by the Company for $1.5 million.
Information set forth in this news release may contain forward-looking statements that are based on assumptions as of the date of this news release. These statements reflect management's current estimates, beliefs, intentions and expectations. They are no guarantees of future performance. Lamêlée cautions that all forward looking statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond Lamêlée's control. Except as required under applicable securities legislation, Lamêlée undertakes no obligation to publicly update or revise forward-looking information.
Neither 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.
Not for release or distribution in the United States or for dissemination to US Newswire Services.
CONTACT INFORMATION
Lamêlée Iron Ore Ltd.
Hubert Vallee, President and Chief Executive Officer
Cell: +1 514 793-7153
HVallee@LameleeIron.com
Marc Duchesne, Chief Financial Officer
Cell: +1 514 910-6906
MDuchesne@LameleeIron.com