Strongbow Exploration Inc. (TSX-V: SBW) announces that the Board of Directors has approved the granting of 2,220,000 incentive stock options to directors, officers, employees and consultants of the Company. The incentive stock options have an exercise price of $0.11 per share and are valid for a 5 year period (expiring September 27, 2020). The options have a 12 month vesting period, with 20% vesting immediately and 20% vesting on a quarterly basis over the next 12 months.
The Company's Stock Option Plan allows for the issuance of up to 10% of issued and outstanding share capital in the form of incentive stock options. As a result of this grant, the Company has 2,361,000 stock options issued, representing 9.2% of the issued and outstanding share capital.
Appointment of CFO
The Company is pleased to announce the appointment of Ms. Zara Boldt as Chief Financial Officer ("CFO") and Corporate Secretary of the Company, effective immediately. Ms. Boldt has served as the Company's Controller and Corporate Secretary since May 2004.
Ms. Boldt is a professional accountant (CPA, CGA) with over fifteen years of progressive work experience in the mineral exploration and development industry. Most recently, Ms. Boldt served as the Vice-President, Finance and CFO for Stornoway Diamond Corporation where she was a member of the senior management team responsible for arranging financing for the development of the Renard Project in Quebec. Ms. Boldt also served as a director and Chair of the Audit Committee of Troon Ventures Ltd. between 2007 and 2014 when Troon completed a business combination with Grenville Strategic Royalty Corp.
The Company recently completed the acquisition of the Coal Creek and Sleitat tin projects in Alaska as well as a concurrent $1 million private placement. As a result of these transactions, Osisko Gold Royalties is now the Company's largest shareholder, controlling 27.3% of the issued and outstanding share capital of Strongbow (please see Strongbow's news release dated July 24, 2015 for details).
In addition to the Alaskan projects, the Company is actively seeking new opportunities.
STRONGBOW EXPLORATION INC.
/s/"Richard D. Williams"
President & CEO
For further information, please contact:
President and CEO
Tel: 604 638 8005
The TSX Venture Exchange has not reviewed, and does not accept responsibility for the adequacy of this release.
This news release contains "forward-looking statements" including but not limited to statements with respect to Strongbow's future plans and objectives. Forward-looking statements, while based on management's best estimates and assumptions, are subject to risks and uncertainties that may cause actual results to be materially different from those expressed or implied by such forward-looking statements, including but not limited to: risks related to the successful integration of acquisitions; risks related to general economic and market conditions; risks related to the availability of financing; the timing and content of upcoming work programs; actual results of proposed exploration activities; possible variations in mineral resources or grade; failure of plant, equipment or processes to operate as anticipated; accidents, labour disputes, title disputes, claims and limitations on insurance coverage and other risks of the mining industry; changes in national and local government regulation of mining operations, tax rules and regulations. Although Strongbow has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Strongbow undertakes no obligation or responsibility to update forward-looking statements, except as required by law.