Beaufield Resources Inc. today announced that the Board of Directors has approved the granting of options for 500,000 common shares of the Corporation to Mr. William Deluce, a Director and the Chairman of the audit Committee of the Corporation, under its stock option plan. The options vest immediately, are exercisable at $0.05 per option and have a term of 5 years. Mr. Deluce was appointed a Director of the Corporation in October 2015 (Press release of October 27, 2015).
After the grant, the total number of outstanding options under the Corporation’s plan is 8,725,000 or approximately 7.6% of the outstanding shares.
Beaufield is a mineral exploration company with its exploration activity focused in Quebec. Beaufield is well positioned to advance its portfolio of exploration properties and identify other potential opportunities in the mineral exploration or development stage. The Corporation is actively exploring, well financed with approximately $3 million in cash and equivalent, has no debt and has excess work credits on its properties.
The information set forth in this press release includes certain forward-looking statements. Such statements are based on assumptions exposed to major risks and uncertainties. Although Beaufield deems the expectations reflected in these forward-looking statements to be reasonable, the Corporation cannot provide any guarantee as to the materialization of the expectations reflected in these forward-looking statements. The Corporation expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by applicable law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) has reviewed or accepts responsibility for the adequacy or accuracy of this Release.