AQM Copper Inc. Grants Options and Deferred Share Units
30.07.2015 | Marketwire
VANCOUVER, July 30, 2015 - AQM Copper Inc. ("AQM" or the "Company") (TSX VENTURE:AQM) announces that it has granted stock options to certain officers of the Company to purchase an aggregate of 1,250,000 common shares in the capital of the Company, each at an exercise price of $0.10 per share for a period of five years pursuant to the Company's Stock Option Plan.In addition, the directors of the Company resolved to implement a deferred share unit plan (the "DSU Plan") subject to shareholder and regulatory approval, and to make a provisional grant of an aggregate of 1,900,000 deferred share units ("DSUs") to certain directors of the Company. In the event that shareholders of the Company do not approve the DSU Plan, the DSU´s granted to certain directors, as set out above will automatically terminate.
On behalf of the Board
Bruce L. Turner
President and Chief Executive Officer
About AQM Copper
AQM Copper Inc. is a Canadian based mineral exploration company exploring and developing copper deposits in South America. The Company's management and directors have extensive experience working for the world's largest mining copper producers and financial institutions.
Through its Peruvian subsidiary, Minera AQM Copper Peru S.A.C. ("MAQM"), the Company is developing the Zafranal Copper-Gold Porphyry Project located in Southern Peru (the "Zafranal Project"). MAQM is the operator of a 50/50 joint venture with Teck Resources Ltd. through a sole purpose Peruvian company, Compañia Minera Zafranal.
MAQM is owned 60% by AQM and 40% by Mitsubishi Materials Corporation; pursuant to a transaction outlined in the Company's news releases of July 2 and August 15, 2013. As such, the Company has a 30% beneficial ownership interest in the Zafranal Project.
On September 12, 2013, the Company published an updated preliminary economic assessment ("PEA") on the Zafranal Project outlining financial projections for an open pit mine processing 44,000 tpd of mill feed. The PEA showed an after-tax net present value, at an 8% discount rate, of US$616 million on a 100% basis. A long-term copper price of US$ 3.00/lb and gold price of US$ 1274/oz were used in the updated preliminary economic assessment.
Please refer to the Company's website at www.aqmcopper.com for further information regarding the Company and the Zafranal Project.
Contact
Pinnacle Capital Markets LTD.
Spyros P. Karellas
Investor Relations representative
(416) 433-5696
spyros@pinnaclecapitalmarkets.ca