TSX Venture Exchange
Trading Symbol: CFI
ST JOHN'S, NL, June 14, 2012 /CNW/ - Canada Fluorspar Inc.,
(TSX-V:CFI) ("CFI" or the "Company") announces that it granted an
aggregate total of 1,750,000 stock options ("Options") and
1,450,000 of such Options were granted to seven directors and
officers of the Company. The Options were granted on March 5, 2012.
All Options were granted at an exercise price of
$0.50 per share, the closing price of
the Company's common shares on the date of grant, and vest when
quantities of fluorspar are available for shipment at the Company's
St. Lawrence Project (as defined in the Company's Management
Discussion & Analysis for the period ended March 31, 2012). The Options expire on
March 4, 2022.
About the Company
The Company is a specialty mineral resource
company engaged in the development of fluorspar deposits located in
St. Lawrence, Newfoundland,
Canada, and is reactivating the existing Blue Beach and
Tarefare underground fluorspar mines, expanding the existing mill,
constructing a new, environmentally-sound Tailings Management
Facility through its 50/50 joint venture with Arkema, called
Newspar. The Company is also building a new deep-water marine
terminal in the outer St. Lawrence Harbour for the export of
fluorspar concentrate product.
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.
Cautionary Note and Forward-looking
statements
This press release contains forward-looking
statements which include, but are not limited to: anticipated
timing for completion of metallurgical testing, the commencement of
the drilling program, current development and operating objectives
and outlook, expectations, opinions, forecasts, projections,
guidance or other statements that are not statements of fact.
Although the Company believes that the expectations reflected in
such forward-looking statements are reasonable, it cannot give any
assurance that such expectations will prove to be correct. Results
of the Company may be affected by a variety of variables and risks
associated with mining development including: loss of market,
volatility of commodity prices, currency fluctuations, imprecision
of reserve estimates, environmental risks, competition from other
producers, ability to access sufficient debt and equity capital
from internal and external sources, ability to generate sufficient
cash flow to meet its current and future obligations, regulatory
approvals affecting construction and mining operations. Such
forward-looking statements are also based on a number of
assumptions which may prove to be incorrect, including, but not
limited to, assumptions about the following: the availability of
financing for exploration and development activities, the supply
and demand for, and the level and volatility of the price of
fluorspar, the assumptions on which resource estimates are based,
the receipt of necessary permit, market competition, ongoing
relations with employees and impacted communities, project cost
estimates and general business and economic conditions. Should one
or more of the risks or uncertainties involved in forward-looking
statements prove incorrect, actual results may vary materially from
those anticipated, believed, estimated or expected. Accordingly,
readers should not place undue reliance on forward-looking
statements.
Forward-looking statements are qualified
entirely by this cautionary statement and are given only as at the
date of this press release. The Company disclaims any obligation to
update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise, except as
required by law.
SOURCE Canada Fluorspar Inc.