Macusani Yellowcake Announces Grant of Options/Resignation of Director
TORONTO, ONTARIO -- (Marketwire) -- 04/07/11 -- Macusani Yellowcake Inc. (TSX VENTURE: YEL)(FRANKFURT: QG1) ('Macusani') announced today that, subject to regulatory approval, it has granted stock options to acquire an aggregate of 365,000 common shares to employees of its Peruvian subsidiary under its stock option plan. Each option is exercisable for a three year period to acquire one common share at a price of $0.60 per share. The options granted vest as to one-quarter immediately and a further one-quarter on each of the 6, 12 and 18 month anniversaries of the date of grant.
Macusani also announced the resignation of Nick Tintor from the board of directors. Macusani wishes to thank Mr. Tintor for his contributions to the company during his tenure on the board.
About Macusani Yellowcake
Macusani Yellowcake Inc. is a Canadian uranium exploration company with over 24,000 hectares (240 km(2)) of mineral properties in southeastern Peru, on the Macusani Plateau. The shares are traded on the TSX Venture Exchange under the symbol 'YEL' and on the Frankfurt Exchange under the symbol 'QG1'.
This news release includes certain forward-looking statements concerning the future performance of Macusani's business, operations and financial performance and condition, as well as management's objectives, strategies, beliefs and intentions. Forward-looking statements are frequently identified by such words as 'may', 'will', 'plan', 'expect', 'anticipate', 'estimate', 'intend' and similar words referring to future events and results. Forward-looking statements are based on the current opinions and expectations of management. All forward-looking information is inherently uncertain and subject to a variety of assumptions, risks and uncertainties, including the speculative nature of mineral exploration and development, fluctuating commodity prices, competitive risks and the availability of financing, as described in more detail in the Company's recent securities filings available at www.sedar.com. Actual events or results may differ materially from those projected in the forward-looking statements and Macusani cautions against placing undue reliance thereon. Neither Macusani nor its management assume any obligation to revise or update these forward-looking statements.
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.
Contacts:
Macusani Yellowcake Inc.
Peter Hooper
President & CEO
(416) 360-3402
peter@macyel.com
www.macyel.com