Beaufield Resources Inc. (TSX Venture Exchange: BFD) today announced that the Board of Directors has approved the granting of options for 400,000 common shares of the Corporation to Mr. Bernard Deluce, a Director of the Corporation, under its stock option plan. The options vest immediately, are exercisable at $0.09 per option and have a term of 5 years. Mr. Deluce was elected a Director of the Corporation at the last Annual Meeting of Shareholders in February 2016.
After the grant, the total number of outstanding options under the Corporation’s plan is 7,025,000 or approximately 5.5% 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, has no debt and has excess work credits on its properties.