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Sokoman Minerals Corp. announced a stock option grant subject to TSX Venture Exchange approval for up to 4,450,000 common shares. Each option is exercisable for CAD$0.44, which is 20% above the previous closing share price. The company's projects include advanced-stage Moosehead and others in Newfoundland and Labrador, covering over 150,000 hectares. They have entered a strategic alliance with Benton Resources Inc. for joint properties. The company received financial support from the Newfoundland and Labrador government for the Moosehead Project.
Positive
Stock option grant of up to 4,450,000 shares at CAD$0.44, a 20% premium to the closing price.
Strategic alliance with Benton Resources for joint venture properties.
Control over 150,000 hectares, enhancing resource exploration potential.
Negative
None.
ST. JOHN’S, Newfoundland and Labrador--(BUSINESS WIRE)--
Sokoman Minerals Corp. (TSXV: SIC) (OTCQB: SICNF) (the “Company” or “Sokoman”) today announces a stock option grant to officers, directors, employees, and consultants of the Company, subject to TSX Venture Exchange approval, for up to a total of 4,450,000 common shares of the Company. These stock options are exercisable for a period of five years at CAD$0.44 per stock option, which represents a 20% premium to yesterday’s closing share price.
About Sokoman Minerals Corp.
Sokoman Minerals Corp. is a discovery-oriented company with projects in the province of Newfoundland and Labrador, Canada. The Company's primary focus is its portfolio of gold projects; flagship, advanced-stage Moosehead, Crippleback Lake (optioned to Trans Canada Gold Corp.) and East Alder (optioned to Canterra Minerals Corporation) along the Central Newfoundland Gold Belt, and the district-scale Fleur de Lys project in northwestern Newfoundland, that is targeting Dalradian-type orogenic gold mineralization similar to the Curraghinalt and Cavanacaw deposits in Northern Ireland. The Company also recently entered into a strategic alliance with Benton Resources Inc. through three, large-scale joint-venture properties including Grey River, Golden Hope and Kepenkeck in Newfoundland.
Sokoman now controls, independently and through the Benton alliance, over 150,000 hectares (>6,000 claims – 1500 sq. km), making it one of the largest landholders in Newfoundland, in Canada’s newest and rapidly-emerging gold districts. The Company also retains an interest in an early-stage antimony/gold project (Startrek) in Newfoundland, optioned to White Metal Resources Inc., and in Labrador, the Company has a 100% interest in the Iron Horse (Fe) project which has Direct Shipping Ore (DSO) potential.
Mineralization hosted on adjacent and/or nearby properties is not necessarily indicative of mineralization hosted on the Company's property.
The Company would like to thank the Government of Newfoundland and Labrador for financial support of the Moosehead Project through the Junior Exploration Assistance Program.
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.
Investors are cautioned that trading in the securities of the Corporation should be considered highly speculative. Except for historical information contained herein, this news release contains forward- looking statements that involve risks and uncertainties. Actual results may differ materially. Sokoman Minerals Corp. will not update these forward-looking statements to reflect events or circumstances after the date hereof. More detailed information about potential factors that could affect financial results is included in the documents filed from time to time with the Canadian securities regulatory authorities by Sokoman Minerals Corp.
