Tamerlane Ventures Inc. Grants Stock Options to Board of Directors
05.03.2012 | Marketwire
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAW.BLAINE, WASHINGTON -- (Marketwire - March 5, 2012) - Tamerlane Ventures Inc. (“Tamerlane“ or the “Company“) (TSX VENTURE: TAM) announced today that, subject to the approval of the TSX Venture Exchange, the Company approved the granting of 700,000 stock options to seven directors of Tamerlane on March 3, 2012. The stock options are exercisable into common shares of Tamerlane at an exercise price of C$0.16 per share for a period of five years. Tamerlane's common shares closed at C$0.16 on the TSX Venture Exchange on March 2, 2012. Tamerlane has 90,355,856 common shares issued and outstanding. Under the terms of the Company's “rolling“ Incentive Stock Option Plan a maximum of 9,035,586 shares are available to be issued pursuant to the exercise of options at this time. Including this grant of 700,000 options, a total of 6,290,000 shares have been reserved for issuance pursuant to outstanding option grants. A further 2,745,586 shares are available for issuance pursuant to future option grants at this time.
About Tamerlane Ventures Inc.
Tamerlane Ventures Inc. is an exploration and development mining company with advanced base metal development projects in Canada and Peru. The Company's immediate focus is bringing the 100%-owned Pine Point Project to production. The Company is currently in the financing phase and expects to commence construction following financing. Tamerlane plans to sell the well-known, Pine Point Concentrates to various smelting facilities around the world. The Company also plans to develop its Los Pinos heap leach copper project in Peru.
Margaret M. Kent
Executive Chairman
Caution Concerning Forward-Looking Information
This press release contains forward-looking information within the meaning of applicable securities laws. We use words such as “may“, “will“, “should“, “anticipate“, “plan“, “expect“, “believe“, “estimate“ and similar terminology to identify forward-looking information. It is based on assumptions, estimates, opinions and analysis made by management in light of its experience, current conditions and its expectations of future developments as well as other factors which it believes to be reasonable and relevant. Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause our actual results to differ materially from those expressed or implied in the forward-looking statements and, accordingly, readers should not place undue reliance on those statements. Risks and uncertainties that may cause actual results to vary include but are not limited to the speculative nature of mineral exploration and development, including the uncertainty of reserve and resource estimates; operational and technical difficulties; the availability to the Company of suitable financing alternatives; fluctuations in zinc, lead and other resource prices; changes to and compliance with applicable laws and regulations, including environmental laws and obtaining requisite permits; political, economic and other risks arising from our activities; fluctuations in foreign exchange rates; as well as other risks and uncertainties which are more fully described in our annual and quarterly Management's Discussion and Analysis and in other filings made by us with Canadian securities regulatory authorities and available at www.sedar.com.
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.
Contact Information
Tamerlane Ventures Inc.
Brent Jones
Director of Corporate Communications and Investor Relations
(360) 332-4636
(360) 332-5025 (FAX)
bjones@tamerlaneventures.com
www.tamerlaneventures.com