TORONTO, May 09, 2018 (GLOBE NEWSWIRE) -- Toachi Mining Inc. (“Toachi” or the “Company”) (TSX-V:TIM) (OTCQB:TIMGF) announces that the Board of Directors of the Company has approved the grant of an aggregate of 400,000 stock options (the “Options”) to certain newly-appointed, key staff employed in Ecuador. The options granted will be issued in accordance with the Company's current stock option plan. The Options are exercisable into common shares of the Company at an exercise price of $0.14 all vesting at 1/3 on date of grant; 1/3 on the first anniversary after date of grant; and 1/3 on the second anniversary after date of grant. The Options have a five-year term to maturity.
About Toachi Mining Inc.
Toachi brings a disciplined and veteran team of project managers together with one of the industry’s highest grade projects at La Plata in Ecuador. Toachi is focused on and committed to the development of advanced stage mineral projects throughout the Americas using industry best practices combined with a strong social license from local communities. Toachi Mining has 81,166,435 shares issued and outstanding.
Forward Looking Statements
Certain statements contained in this news release may constitute “forward-looking information” as such term is used in applicable Canadian securities laws. Forward-looking information is based on plans, expectations and estimates of management at the date the information is provided and
is subject to certain factors and assumptions, including, that the Company’s financial condition and development plans do not change as a result of unforeseen events and that the Company obtains regulatory approval. Forward-looking information is subject to a variety of risks and uncertainties and other factors that could cause plans, estimates and actual results to vary materially from those projected in such forward-looking information. Factors that could cause the forward-looking information in this news release to change or to be inaccurate include, but are not limited to, the risk that any of the assumptions referred to prove not to be valid or reliable, that occurrences such as those referred to above are realized and result in delays, or cessation in planned work, that the Company’s financial condition and development plans change, and delays in regulatory approval, as well as the other risks and uncertainties applicable to the Company as set forth in the Company’s continuous disclosure filings filed under the Company’s profile at www.sedar.com. The Company undertakes no obligation to update these forward-looking statements, other than as required by applicable law.
FOR ADDITIONAL INFORMATION PLEASE CONTACT
Alain Bureau
President and CEO
Candace Di Vito
Manager, Investor Relations
Telephone: 416 365 7043
Email: cdivito@toachimining.com
Neither 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.