TINY, ONTARIO--(Marketwired - Aug. 1, 2014) - Milner Consolidated Silver Mines Ltd. (the "Company" or "Milner") (TSX VENTURE:MCA) announced today that, pursuant to the Company's Stock Option Plan, a total of 743,850 incentive stock options have been granted to directors and officers of the Company and its subsidiary. The options are exercisable at a Discounted Market Price of $0.05 per common share for a period of five years, expiring on July 31, 2019.
These options have been granted to replace previously issued options (743,850 shares) having expiry dates in March and May of 2014. These previously issued options all expired unexercised.
The market price at close of previous day was $0.065. The grant of this option is in accordance with the existing stock option plan. The stock options are for a term of five years and vest immediately.
The grant of the incentive stock options is subject to regulatory approval.
About Milner Consolidated Silver Mines Ltd.
Milner is a junior resource company, quoted for trading on the TSX Venture Exchange under the symbol MCA. There are currently 7,438,506 shares issued and outstanding in the Company.
"Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release."