Kincora Copper Ltd. Grants Incentive Stock Options
31.05.2013 | Marketwired
VANCOUVER, BRITISH COLUMBIA -- (Marketwired - May 31, 2013) - Kincora Copper Limited (the "Company", "Kincora") (TSX VENTURE:KCC) announces that, in accordance with the Company's stock option plan, it has granted to certain directors, officers and consultants incentive stock options to purchase up to an aggregate of 9,100,000 common shares exercisable on or before May 31, 2017 at prices per share of $0.105 (as to 2,275,000 options), $0.135 (as to 2,275,000 options), $0.165 (as to 2,275,000) options and $0.195 (as to 2,275,000 options).Commenting on today's announcement, Sam Spring, President and CEO of Kincora, said:
"The grant of these stock options follows the recent adoption of a new remuneration policy for directors such that there is a commitment for the on-market acquisition of shares and is a further step to align directors, officers and key consultants interests with that of shareholders. The option package has been staggered to better reflect a performance based structure to create shareholder value with the minimum exercise price being set at the issuance price of the last capital raising."
About Kincora Copper Limited
Kincora Copper Limited is a junior resource company engaged in the acquisition, exploration and development of mineral properties with a focus on copper/gold projects in Mongolia.
Kincora's ambition is to be the leading listed independent copper exploration and development company in the highly prospective and proven Oyu Tolgoi South Gobi porphyry copper belt in southeast Mongolia. The Company is currently exploring its wholly owned Bronze Fox, Tourmaline Hills and North Fox projects which host an extremely large and strategically located mineralised footprint covering over 40km2.
The projects are situated only 250km from the Chinese border and within 140km of two large scale greenfield copper construction projects: Oyu Tolgoi, invested capital to date approximately US$6.6 billion and target production of up to 160,000t/ day; and, Tsagaan Suvarga, estimated capex US$1b and target production of 40,000t/ day. Other significant mines and associated infrastructure are being developed in this immediate region.
The Company is listed on the TSX Venture Exchange, was formed in mid-2011, with its head office located in Vancouver, Canada, and a regional office in Ulaanbaatar, Mongolia.
Neither the 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 release.
CONTACT INFORMATION
Kincora Copper Limited
Sam Spring, President and Chief Executive Officer
+61431 329 345
sam.spring@kincoracopper.com
www.kincoracopper.com
