QUEBEC CITY, QUEBEC--(Marketwired - June 23, 2014) - MONARQUES RESOURCES INC. ("Monarques" or the "Corporation") (TSX VENTURE:MQR)(FRANKFURT:MR7) announced today that a total of 670,000 options granted shares to its directors, officers and employee. Each stock option entitles the holder to purchase one common share of the Corporation at a price of $ 0.14 per common share for a period of five years from the grant date. Of this number, 600,000 stock options vest immediately while 70,000 options to purchase shares will vest gradually over a period of 18 months, with a quarter vest immediately and fourth all of the following semesters. Options to purchase shares and common shares that may be subscribed upon the exercise thereof will be subject to a hold period of four months on resale which begins from the date of grant. These stock options are governed by the Stock Option Plan of the Company, as currently in force.
ABOUT MONARQUES
Monarques is a junior gold exploration company dedicated to excellence and committed to a program of socially and environmentally responsible development. The Corporation is currently focusing its efforts on the development of gold projects along the Cadillac Break, in the Val-d'Or area. Monarques currently has over 160 km² of property holdings in Val-d'Or consisting of 611 claims, two mining concessions and one mining lease, and over $9.2 million in credits from the ministère de l'Énergie et des Ressources naturelles.
Forward-Looking Statements
The forward-looking statements in this press release involve known and unknown risks, uncertainties and other factors that may cause Monarques' actual results, performance and achievements to be materially different from the results, performance or achievements expressed or implied therein. Neither 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 press release.