TORONTO, Feb. 28, 2020 (GLOBE NEWSWIRE) -- Tintina Mines Limited (“Tintina”) (TSXV:TTS) is pleased to announce that it has received final approval from the TSX Venture Exchange (the “TSXV”) in connection with the closing of the business combination transaction (the “Transaction”) pursuant to which Tintina acquired all of the outstanding common shares of NSR Resources Inc. (“NSR”) not already owned by Tintina. The closing of the Transaction was previously announced in a press release dated November 29, 2019.
Tintina also wishes to announce that it intends to amend its stock option plan to change from a fixed plan to a 10% rolling plan, and will seek approval of this amendment at the next meeting of its shareholders. At the same meeting, Tintina will also seek to ratify the grant of 1,401,132 options with an effective grant date of November 28, 2019 that were approved in connection with the Transaction (the “Options”). Each Option will be exercisable for one common share of Tintina at an exercise price of $0.05 until November 29, 2023.
The amendments to the stock option plan and the grant of the Options will not be effective until all necessary approvals are received, including but not limited to the approval of the shareholders of Tintina and any necessary regulatory approvals. In accordance with the policies of the TSXV, the holders of the Options must not exercise the Options until the shareholders of Tintina approve the amendment to the stock option plan. In the event that Tintina’s shareholders do not approve the amendment to the stock option plan, the Options will terminate. Any additional stock options other than the Options noted above that are be granted prior to the approval of the amended stock option plan cannot be exercised prior to approval, and in the event that approval is not received, such options will terminate. Further, such additional option grants will be subject to the approval of the shareholders of Tintina.
About Tintina
Tintina is a Canadian-based company with over twenty years of experience in the junior mining industry. Tintina currently owns two main properties, both of which are located in Yukon. The common shares of Tintina are listed for trading on the TSXV under the symbol “TTS”.
For further information, please contact:
Tintina Mines Limited
Mr. Jing Peng
82 Richmond Street East
Toronto, Ontario
M5C 1P1
Phone: (416) 848-9888
Email: jpeng@marrellisupport.ca
Forward-looking Statements
This press release contains forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties and assumptions and accordingly, actual results and future events could differ materially from those expressed or implied in such statements. You are hence cautioned not to place undue reliance on forward-looking statements. All statements other than statements of present or historical fact are forward-looking statements, including statements with respect to the receipt of all required approvals including without limitation the applicable stock exchanges. Forward-looking statements include words or expressions such as “proposed”, “will”, “subject to”, “near future”, “in the event”, “would”, “expect”, “prepared to” and other similar words or expressions. Factors that could cause future results or events to differ materially from current expectations expressed or implied by the forward-looking statements include general business, economic, competitive, political and social uncertainties; the state of capital markets; risks relating to delay or failure to receive shareholder, regulatory or other approvals; other unforeseen events, developments, or factors causing any of the aforesaid expectations, assumptions, and other factors ultimately being inaccurate or irrelevant; and other risks described in Tintina’s documents filed with Canadian securities regulatory authorities. You can find further information with respect to these and other risks in filings made with the Canadian securities regulatory authorities and available at www.sedar.com. We disclaim any obligation to update or revise these forward-looking statements, except as required by applicable law.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this press release.
