Rusoro announces full revocation of cease trade orders, resumption of trading,
appointment of CFO, resignation of director and stock option plan
cnw
Trading symbol (TSX-V): RML
VANCOUVER, Sept. 6, 2013 /CNW/ - Rusoro Mining Ltd. (the "Company" or "Rusoro")
(TSXV: RML). Further to its news release dated August 19, 2013, the
Company announces that the British Columbia Securities Commission, the
Ontario Securities Commission and the Autorite des Marches Financiers
have granted full revocations of the cease trade orders issued by each
of them against the Company. Rusoro has been advised by the TSX
Venture Exchange ("Exchange") that its shares are expected to be
reinstated for trading on the Exchange on Monday, September 9, 2013.
The Company also announces that Mr. Jeremy Crichton has been appointed
as CFO and that the Hon. John D. Reynolds P.C. has resigned as a
director. The Company wishes to thank Mr. Reynolds for his contribution
to the Company.
The Company has adopted a fixed stock option plan which authorizes the
issuance of up to 53,250,000 stock options and has granted options to
purchase 10,700,000 common shares to directors, officers and
consultants. Additionally, the Company has repriced options to
purchase 2,430,000 common shares. The exercise price of the new
options and the repriced options will be determined based on the market
price of the Company's common shares on the Exchange upon resumption of
trading, subject to a minimum exercise price of $0.05 per share. All of
the above is subject to regulatory approval.
Additional information regarding the nationalization of the Company's
assets in Venezuela and the Company's ongoing litigation involving the
Government of Venezuela is available on SEDAR and on the Company's
website at www.rusoro.com.
ON BEHALF OF THE BOARD
"Andre Agapov"
Andre Agapov, President & CEO
Forward-looking statements:
