ECU Silver Grants Options
- Press Release
- Source: ECU Silver Mining Inc.
- On Saturday September 12, 2009, 2:32 pm EDT
TORONTO, ONTARIO--(Marketwire - Sept. 12, 2009) - ECU Silver Mining Inc. (TSX:ECU - News) today announced an issuance of share purchase options (the "Options") pursuant to the Company's Stock Option Plan approved by shareholders and accepted by the Toronto Stock Exchange.
In accordance with the Company's Stock Option Plan, as at September 9, 2009 the Company has granted Options on 10,825,000 common shares of the Company to directors, officers, consultants and employees of the Company. The Options will be exchangeable into common shares of the Company at a price of $0.60 per common share. This represents a premium of 18% over the 10-day average closing price of ECU Common Shares of $0.51 ending September 9, 2009. The shares closed at $0.58 on September 9, 2009. The Options represent approximately 3.8% of the Company`s 285,760,634 common shares outstanding and will expire September 9, 2016.
Cautionary Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act and Section 27E of the Exchange Act. Such statements include, without limitation, statements regarding the future results of operations, performance and achievements of the Company, including potential property acquisitions, the timing, content, cost and results of proposed work programs, the discovery and delineation of mineral deposits/resources/reserves, geological interpretations, proposed production rates, potential mineral recovery processes and rates, the proposed construction of a mill, business and financing plans, business trends and future operating revenues. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate and similar expressions, or are those, which, by their nature, refer to future events. The Company cautions investors that any forward-looking statements by the Company are not guarantees of future results or performance, and that actual results may differ materially from those in forward looking statements as a result of various factors, including, but not limited to, variations in the nature, quality and quantity of any mineral deposits that may be located, significant downward variations in the market price of any minerals produced, the Company's inability to obtain any necessary permits, consents or authorizations required for their activities, to produce minerals from their properties successfully or profitably, to continue their projected growth, to raise the necessary capital or to be fully able to implement their business strategies. All of the Company's public disclosure filings may be accessed via www.sedar.com and readers are urged to review these materials, including the technical reports filed with respect to the Company's mineral properties.
The Toronto Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this Press Release
Contact:
Michel Roy
ECU Silver Mining Inc.
Chairman and CEO
011 52 871 747 5750
Stephen Altmann
ECU Silver Mining Inc.
President
(416) 366-2428
