Full Metal Amends OG Property Agreement and Issues Options
November 12 2009 - 1:27PM
Marketwired
Full Metal Minerals Ltd. (the "Company") (TSX VENTURE: FMM)
announces an amendment for the OG zinc-lead-silver Property in
Yukon.
Full Metal Minerals Ltd. and Shawn Ryan entered into a letter
agreement dated May 10, 2007 for the OG Property (See Full Metal
press release dated May 29th 2007). The parties hereby amend the
2007 Agreement as follows, subject to the approval of the TSX
Venture Exchange. The total cash consideration will remain the
same, however decreased by $100,000 for the year 2009 and increased
by $50,000 in each of the years 2010 and 2011. The total number of
common shares of Full Metal required to be issued under the
agreement will be increased by 30,000 common shares, such shares to
be issued for the 2009 year.
Additionally, Full Metal would like to welcome Darryl Cardey and
Shawn Wallace as new directors, elected by the shareholders at the
Company's annual general meeting on October 22nd, 2009. Full Metal
would like to thank Bruce McLeod and Dave DeWitt for their
contributions to the company over the past five years, and wish
them well in their future endeavors.
The Company has granted 5,675,000 options at a price of $0.21 to
directors, officers, employees and consultants. The options are
exercisable for a period of ten years.
Full Metal is a generative exploration company with multiple
precious and base metal projects in Alaska and the Yukon. The
Company has Joint Venture Agreements with Kinross Gold, Freeport
McMoRan, Harmony Gold, Mosam Capital, Triex Minerals, and Highbury
Projects.
ON BEHALF OF THE BOARD OF DIRECTORS
Michael Williams, President
Some statements in this news release contain forward-looking
information. These statements include, but are not limited to,
statements with respect to the completion of financings and debt
settlements, the timing and amount of issuances of securities and
the uses of proceeds. These statements address future events and
conditions and, as such, involve known and unknown risks,
uncertainties and other factors which may cause the actual results,
performance or achievements to be materially different from any
future results, performance or achievements expressed or implied by
the statements. Such factors include, among others, the ability to
complete contemplated financings, debt settlements and securities
issuances and the uses of proceeds.
Neither the 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.
Contacts: Full Metal Minerals Ltd. Michael Williams President
604-484-7855 604-484-7155 (FAX) www.fullmetalminerals.com
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