2012-11-16 14:44:49 -
TORONTO, ONTARIO -- (Marketwire) -- 11/16/12 -- Asian Mineral Resources Limited ("AMR") (TSX VENTURE:ASN) is pleased to announce that it has today granted stock options to acquire 2,100,000 common shares of AMR to its Chief Executive Officer, Simon Booth, pursuant to the terms of the Company's stock option plan. AMR has also today granted stock options to acquire 500,000 common shares of AMR to its Chief Financial Officer, Paula Kember.
The options were granted with a five year term and an exercise price of CDN$0.10 per common share of AMR and will vest quarterly in four equal portions on March 31, 2013, June 30, 2013, September 30, 2013 and December 31, 2013. AMR is eligible to issue up to 10% of its issued and outstanding common shares at the applicable time under its stock option plan and there are 11,433,473 common shares of AMR reserved for issuance.
Asian Mineral Resources Limited is developing the Ban Phuc Nickel Project, located 160 km north-west of Hanoi in the Son La Province, which is 90% owned by its subsidiary Ban Phuc Nickel Mines LLC. The development of the project is in advanced stages, with underground and surface infrastructure near completion and commercial production expected to occur by June 2013. For further details on AMR and the Ban Phuc Nickel Project, please refer to the company website at www.asianminres.com.
This press release includes certain "Forward-Looking Statements." All statements, other than statements of historical fact, included herein, including without limitation, statements regarding completion of the project and the achievement of expected benefits, potential mineralization and reserves, exploration results and future plans and objectives of AMR are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from AMR's expectations are disclosed under the heading "Risk Factors" in AMR's Annual Information Form and elsewhere in AMR's documents filed from time-to-time with the TSX Venture Exchange and other regulatory authorities. Forward-looking statements are qualified entirely by this cautionary statement and are given only as at the date of this press release. AMR disclaims any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Asian Mineral Resources Limited
Chief Financial Officer