TORONTO, ONTARIO--(Marketwired - Jan. 10, 2014) - Rupert Resources Ltd. (TSX VENTURE:RUP) ("Rupert" or "the Company") today announced that that it has granted an aggregate of 2,075,000 options to directors and senior management of the Company. These options are exercisable over a period of two years at a price of $0.08 per common share, which reflects the closing price of Rupert on January 8, 2014.
For M. Kostuik, President and CEO, 48 percent of such stock options shall vest immediately, 26 percent shall vest on the first anniversary of the date of grant, and the remainder shall vest on the second anniversary of the date of grant. For the other grantees, 33 percent of such stock options shall vest immediately, 33 percent shall vest on the first anniversary of the date of grant, and the remainder shall vest on the second anniversary of the date of grant.
This option grant is an important first step in revitalising Rupert in 2014. The new team of directors and senior management will now be more closely aligned with shareholder priorities and incentivised in their efforts to translate their expertise and drive into shareholder wealth.
The options are granted pursuant to the Company's stock option plan and were approved by the compensation committee at a special meeting held on January 8, 2014.
Including this grant, Rupert has a total of 55,897,138 issued shares and 2,275,000 outstanding options.
Please see www.rupertresources.com.
About the Company
Rupert Resources is a Canadian based gold exploration company. Rupert's objective is to evaluate the developmental potential of its two assets - the Surf Inlet property in British Columbia and the Gold Centre property in Ontario - in parallel with the objective of finding other investment opportunities in near term producing assets through active searches for development projects. Rupert holds a 100% interest in the Gold Centre property, which has the distinction of being one of the best-positioned exploration land packages within the entire Red Lake gold mining camp. The Gold Centre property is immediately adjacent to and on trend with the world's richest gold mine, Goldcorp, now working within 600m of Rupert's boundary.
In 2004, Rupert commenced an 11,900m drill program on the Gold Centre property consisting of two main holes and several daughter holes. Although, at the 2008 conclusion of this program no significant gold was found in that small area in the South West portion of the property, strong geological features were encountered. On the heels of a recent $510,000 private placement, the new Summer 2013 exploration program has been completed. A geophysical program delineated three strong I.P. anomalies, with two located in the northwestern portion, and one in the eastern portion of the property. They have been recommended as diamond drill targets. See press release, November 14, 2013.
Michael Sutton, P.Geo., a Director of Rupert Resources Ltd., and a Qualified Person ("QP"), has reviewed and approved the technical content of this news release.
ON BEHALF OF THE BOARD
M. Kostuik, President and CEO
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 news release.
Cautionary Note Regarding Forward-Looking Statements
This press release contains statements which constitute "forward-looking statements", including statements regarding the plans, intentions, beliefs and current expectations of the Company with respect to the future business activities and operating performance of the Company. The words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" and similar expressions, as they relate to the Company, are intended to identify such forward-looking statements. Investors are cautioned that forward-looking statements are based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made, and are inherently subject to a variety of risks and uncertainties and other known and unknown factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. These factors include the general risks of the mining industry, as well as those risk factors discussed or referred to in the Company's annual Management's Discussion and Analysis and Annual Information Form for the year ended October 30, 2013 available at www.sedar.com. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. The Company does not intend, and does not assume any obligation, to update these forward-looking statements except as otherwise required by applicable law.