Board of Directors has authorized an amendment to its Stock Option Plan (The “Plan”) to increase to 11,000,000 the maximum number of options issuable under the Plan (which represents 9.88% of the issued and outstanding common shares of the Company), subject to the approval of the TSX Venture Exchange.
Following regulatory approval, the Company will have 3,200,000 available options for future grants under the amended Plan.
Beaufield is a mineral exploration company with its exploration activity focused in Quebec. With approximately $7.5 million in working capital, including $2 million in flow-through financing to be dedicated for exploration by the end of 2013, Beaufield is well positioned to advance its excellent portfolio of properties and identify other potential opportunities in the mineral exploration or development stage that we can add value to on behalf of our shareholders.
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 Company cannot provide any guarantee as to the materialization of the expectations reflected in these forward-looking statements. The Company 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.