Press release from CNW Group
Rusoro announces full revocation of cease trade orders, resumption of trading, appointment of CFO, resignation of director and stock option plan
Friday, September 06, 2013
Rusoro announces full revocation of cease trade orders, resumption of trading, appointment of CFO, resignation of director and stock option plan14:19 EDT Friday, September 06, 2013
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 Autorité des Marchés 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, President & CEO
This document contains statements about expected or anticipated future events and financial results that are forward-looking in nature and as a result, are subject to certain risks and uncertainties, such as general economic, market and business conditions, the regulatory process and actions, technical issues, new legislation, competitive and general economic factors and conditions, the uncertainties resulting from potential delays or changes in plans, the occurrence of unexpected events, and the Company's capability to execute and implement its future plans. Actual results may differ materially from those projected by management. For such statements, we claim the safe harbour for forward-looking statements within the meaning of the Private Securities Legislation Reform Act of 1995.
"Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release."
SOURCE: Rusoro Mining Ltd.
For further information:
Suite 3123 - 595 Burrard Street
Vancouver, BC V7X 1J1
Tel: 604-609-6110 - Fax: 604-609-6145