12 Exploration Inc. Announces Completion of Initial Public Offering, Shares to Commence Trading on CSE on May 16, 2019
![12 Exploration Inc. Announces Completion of Initial Public Offering, Shares to Commence Trading on CSE on May 16, 2019](https://www.minenportal.de/media/goldseiten-news.jpg)
Upon closing of the Offering, the Company granted 500,000 incentive stock options to its Chief Executive Officer, Chief Financial Officer and directors which are exercisable for a period of five years from the date of the grant at an exercise price of $0.15 per Common Share. Following the completion of the Offering, the Company has 10,010,000 Common Shares issued and outstanding, 4,010,000 of which are subject to escrow restrictions as disclosed in the Prospectus.
About the Company
The Company is a mineral exploration company focused on the acquisition, exploration and development of properties for the mining of gold and other minerals. The Company currently holds an option to acquire up to an 80% interest in the property known as the Deepwater Project located northeast of Sudbury, Ontario, subject to certain encumbrances and a 2% net smelter return royalty over part of the property.
For further information please contact:
12 Exploration Inc.
Mr. Eric Klein, Chief Executive Officer.
Tel. (416) 725-7570
Forward Looking Information
This news release contains statements about the Company’s expectations regarding the completion of the application for listing and the commencement of trading on the CSE that are forward-looking in nature and, as a result, are subject to certain risks and uncertainties, such as final listing approval from the CSE. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, undue reliance should not be placed on them as actual results may differ materially from the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include failure to fulfill conditions of listing on the CSE and inability to obtain required regulatory approvals. The forward-looking statements contained in this press release are made as of the date hereof, and the Company undertakes no obligation to update publicly or revise any forward-looking statements or information, except as required by law.