African Queen Grants Stock Options
Vancouver, British Columbia / TheNewswire / November 12, 2015 - African Queen Mines Ltd. (the "Company") announces that it has granted, subject to any necessary regulatory approvals, incentive stock options to purchase up to an aggregate of 4,500,000 shares of its Common Stock. Of these options, 2,300,000 are being granted to a group of seven officers and directors, 2,000,000 are being granted to a group of six consultants and employees, and 200,000 are being granted to a corporate communications representative. These options are being granted, in part, to replace options which expired in 2014 and 2015. The options are exercisable for a term of three years at the price of CAD $0.05 per share and are subject to the Company's customary vesting provisions.
About African-Queen
The Company is an exploratory resource company with diversified mineral properties in Canada and East Africa. It is presently engaged in exploration and development of its Yellowjacket Gold Project in British Columbia, which covers an aggregate of approximately 79.56 sq. km. It is also exploring its Rongo (Odundu) Gold Project comprising approximately 97 sq.km. in Kenya for gold and other metals under a joint venture with a Kenyan company. Its operations in Kenya are carried out through its operating subsidiary AQ Kenya Gold Limited. The Company has its executive offices in Vancouver, Canada. The Company was incorporated under the laws of the Province of British Columbia, Canada on April 30, 2008, and received certain southern African assets in a spin off transaction related to the acquisition of Pan African Mining Corp. by Asia Thai Mining Co., Ltd.
ON BEHALF OF THE BOARD OF DIRECTORS OF
AFRICAN QUEEN MINES, LTD.
"Irwin Olian"
Irwin Olian
Chairman & CEO
For more information, contact:
| Irwin Olian, President and CEO E-mail: tigertail@africanqueenmines.com Phone: (604) 788-0300 | Carrie Howes, Corporate Communications Email: carrie@africanqueenmines.com Phone : U.K. - +44 (0) 870 490 5443 Canada - +1 416 900 3634 |
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of the information contained herein. The statements made in this press release may contain certain forward-looking statements that involve a number of risks and uncertainties. Actual events or results may differ from the Company's expectations.
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