Pele Mountain Resources Announces Option Grants
TORONTO, ONTARIO--(Marketwired - Feb 12, 2015) - Pele Mountain Resources Inc. (TSX VENTURE:GEM)(OTCQX:GOLDF) ("Pele" or the "Company") announced that it has granted a total of 4,550,000 incentive stock options to members of management and the directors of the Company, which are exercisable at $0.05 per share and expire on December 31, 2019.
The Company also granted an aggregate of 375,000 options to employees of the Company which are exercisable at $0.05 per share and expire on December 31, 2019 and 455,000 incentive stock options to four (4) consultants of Pele, which are exercisable at $0.05 per share and expire on December 31, 2015.
All options granted and any common shares issued upon their due exercise will be subject to a statutory four-month hold period. The granting of the options are subject to regulatory acceptance of applicable filings.
About Pele
Pele Mountain Resources is focused on the sustainable development of a low cost, early to market, critical rare earth supply chain by recycling imported, high-grade rare earth bearing monazite in Elliot Lake, Ontario, at the same location as its Eco Ridge Mine Rare Earth and Uranium Project. Recycling monazite presents a relatively low CAPEX approach to producing critical rare earths and, ultimately, can support the development of Eco Ridge. Pele is engaged with government, First Nations, local communities, and rare earth industry leaders and end users to achieve this objective.
With excellent regional infrastructure and strong local support, Elliot Lake is an ideal location for production of a safe, secure, and reliable supply of critical rare earths and uranium. Eco Ridge continues to provide Pele shareholders with exposure and leverage to rare earth and uranium prices. Pele shares are listed on the TSX Venture Exchange under the symbol "GEM" and on the OTCQX under the symbol "GOLDF".
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.
Common Shares Outstanding: 178,961,549