Wellgreen Platinum Announces Option Amendments and Cancellations
25 February 2014 - 7:43AM
Marketwired
Wellgreen Platinum Announces Option Amendments and Cancellations
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Feb 24, 2014) -
Wellgreen Platinum Ltd. (TSX-VENTURE:WG)(OTCQX:WGPLF) announces
that, in keeping with its on-going commitment to strong corporate
governance, it has completed a detailed review of historical option
grants. The Company's review focused on options that were granted
to various persons on June 17, 2011 (the "June 2011 Options") at an
exercise price of $0.90. As a result of this review, the Company
has determined that the terms of certain remaining June 2011
Options should be amended, and that certain other remaining June
2011 Options should be cancelled, subject to regulatory
approval.
The Company has accordingly amended the price of 4,529,285 of
the June 2011 Options to $0.91 (with the amendment to 2,309,285 of
these options being subject to regulatory approval). Most of these
options will expire within 90 days of today's date in accordance
with their terms. All other terms of such options remain
unchanged.
The Company's review has also resulted in the cancellation of
670,715 of the June 2011 Options (subject to regulatory
approval).
About Wellgreen
Platinum Ltd.
Based in Vancouver, Canada, Wellgreen Platinum Ltd. is a
platinum group metals focused exploration and development company
with advanced Canadian projects in the Yukon Territory, Ontario,
and Manitoba. Our 100% owned Wellgreen PGM-Ni-Cu project, located
in the Yukon, is one of the world's largest undeveloped PGM
deposits and one of the few significant PGM deposits outside of
southern Africa or Russia. Our Shakespeare PGM-Ni-Cu project is a
fully-permitted, production-ready brownfield mine located in the
well-established Sudbury mining district of Ontario, and our Lynn
Lake project is a former operating mine located in Manitoba,
Canada.
Our experienced management team has an extensive track record of
successful, large-scale project discovery, development, permitting,
operations and financing combined with an entrepreneurial approach
to sustainability and collaboration with First Nations and
communities.
Further information about the Company and its projects can be
found at www.wellgreenplatinum.com.
Forward Looking Information: This news release includes certain
information, particularly with respect to the anticipated receipt
of regulatory approval, that may be deemed "forward-looking
information". Although the Company believes that the expectations
expressed in such forward-looking information are based on
reasonable assumptions, such expectations are not guarantees of
future performance and actual results or developments may differ
materially from those in the forward-looking information. The
Company does not undertake to update any forward looking
information, except in accordance with applicable securities
laws.
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.
Wellgreen Platinum Ltd.Chris AckermanManager, Corporate
Communicationscackerman@wellgreenplatinum.comwww.wellgreenplatinum.com
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