VLMZF - Volcanic Grants Incentive Stock Options
(TheNewswire)
Vancouver, British Columbia - TheNewswire - October 7,2020 - Volcanic Gold MinesInc. (TSXV:VG) announces that it has grantedincentive stock options to its directors, officers, employees andconsultants to purchase up to an aggregate of 2,525,000 common sharesof the Company, exercisable at $0.57 per share for up to ten years. In addition, the Company has cancelled 253,570 existing stock optionswhich were exercisable at $4.20 per share .
About Volcanic
Volcanic brings together an experienced and successfulmining, exploration and capital markets team focused on buildingmulti-million ounce gold and silver resources in underexploredcountries. Through the strategic acquisition of mineral propertieswith demonstrated potential for hosting gold and silver resources, andby undertaking effective exploration and drill programs, Volcanicintends to become a leading gold-silver company.
For further information, visit our website at www.volgold.com .
Volcanic Gold Mines Inc.
Charles Straw, Director/CEO
Neither the TSX Venture Exchange northe Investment Industry Regulatory Organization of Canada acceptsresponsibility for the adequacy or accuracy of this release.
Certain statements contained in thisnews release constitute forward-looking statements within the meaningof Canadian securities legislation. All statements included herein, other thanstatements of historical fact, are forward-looking statements andinclude, without limitation, statements about the granting andcancellation of stock options by the Company. Often, but not always,these forward looking statements can be identified by the use of wordssuch as "estimate", "estimates","estimated", "potential", "open","future", "assumed", "projected","used", "detailed", "has been","gain", "upgraded", "offset","limited", "contained", "reflecting","containing", "remaining", "to be","periodically", or statements that events, "could"or "should" occur or be achieved and similar expressions,including negative variations.
Forward-looking statements involveknown and unknown risks, uncertainties and other factors which maycause the actual results, performance or achievements of the Companyto be materially different from any results, performance orachievements expressed or implied by forward-looking statements. Suchuncertainties and factors include, among others, changes in generaleconomic conditions and financial markets; t he Company or any joint venture partnernot having the financial ability to meet its exploration anddevelopment goals; risks associated with the results of explorationand development activities, estimation of mineral resources and thegeology, grade and continuity of mineral deposits; unanticipated costsand expenses; and such other risks detailed from time to time in theCompany's quarterly and annual filings with securities regulators andavailable under the Company's profile on SEDAR atwww.sedar.com . Although theCompany has attempted to identify important factors that could causeactual actions, events or results to differ materially from thosedescribed in forward-looking statements, there may be other factorsthat cause actions, events or results to differ from thoseanticipated, estimated or intended.
Forward-looking statements containedherein are based on the assumptions, beliefs, expectations andopinions of management, including but not limited to: that theCompany's stated goals and planned exploration and development activities will be achieved;that there will be no material adverse change affecting the Company orits properties; and such other assumptions as set out herein. Forward-looking statements are made as of the date hereof and theCompany disclaims any obligation to update any forward-lookingstatements, whether as a result of new information, future events orresults or otherwise, except as required by law. There can be noassurance that forward-looking statements will prove to be accurate,as actual results and future events could differ materially from thoseanticipated in such statements. Accordingly, investors should notplace undue reliance on forward-looking statements.
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