Luminex Announces Granting of Options

VANCOUVER, British Columbia, Oct. 16, 2019 (GLOBE NEWSWIRE) -- Luminex Resources Corp. (TSXV: LR) (US OTC: LUMIF) (the “Company” or “Luminex”) announces that it has granted incentive stock options under the Company's stock option plan to certain directors, officers, employees and consultants of the Company to purchase up to an aggregate of 1,067,000 common shares of the Company. The options are exercisable at a price of $0.63 per share, will expire on October 16, 2024, and will vest in three equal parts over the first two years after grant.

Additionally, the Company has renewed its agreement with First Globe Capital International Inc. (“First Globe”) that was announced on October 5, 2018, for an additional 12 months. First Globe is based out of Vancouver, British Columbia, and is owned by Anish Sunderji. First Globe provides institutional fundraising and advisory services to its clients. The Company has compensated First Globe for its services by granting to First Globe options to purchase up to 30,000 common shares of the Company. The options granted to First Globe are exercisable at a price of $0.63 per share, will expire on October 16, 2024, and will vest in four equal parts over the first two years after grant. The Company has also agreed to reimburse First Globe for its reasonable incidental expenses incurred in providing the investor relation services to the Company. First Globe does not otherwise have any relationship with or hold any securities of the Company, except for previously granted stock options.

About Luminex Resources

Luminex Resources Corp. (TSXV:LR) is a Vancouver, Canada based precious and base metals exploration and development company focused on gold and copper projects in Ecuador. Luminex’s inferred and indicated mineral resources are located at the Condor Gold-Copper project in Zamora-Chinchipe Province, southeast Ecuador. Luminex also holds a large and highly prospective land package in Ecuador, including the Tarqui and Pegasus projects, which are being co-developed with BHP Group plc and Anglo American plc respectively.

Further details are available on the Company’s website at https://luminexresources.com/.

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