McChip Resources Inc. Announces Grant of Stock Options
August 28 2020 - 8:01AM
McChip Resources Inc. (the “Company”) (TSX-V:MCS) announces that it
has granted stock options to a director of the Company to purchase
up to 50,000 common shares, in aggregate (“Common Shares”) in the
capital of the Company at an exercise price of $0.45 per Common
Share, the closing price of the Common Shares on August 26, 2020,
expiring on August 26, 2025. The current number of issued and
outstanding Common Shares is approximately 5,660,096. The options
were granted pursuant to the Company’s incentive stock option plan
(the “Plan”), under which a maximum of 560,000 Common Shares are
reserved for issuance. Following the grant of such options, a
further 160,000 Common Shares will be available for issuance under
the Plan.
For further information contact:
Edward G. DumondCorporate SecretaryMcChip Resources
Inc.289 231 4765
Neither the TSX 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 news release.
Certain statements in this news release
constitute “forward-looking information” within the meaning of
applicable Canadian securities legislation. Forward-looking
information contained in forward-looking statements can be
identified by the use of words such as “are expected”, “is
forecast”, “is targeted”, “approximately”, “plans”, “anticipates”,
“projects”, “continue”, “estimate”, “believe” or variations of such
words and phrases or statements that certain actions, events or
results “may”, “could”, “would”, “might” or “will” be taken, occur
or be achieved. This news release contains forward-looking
information regarding: (i) the expectations relating to whether a
transaction will be consummated, including, without limitation,
whether conditions to the consummation of the transaction will be
satisfied, or the timing for completing the transaction; and (ii)
expectations for the effects of the transaction or the ability of
the Company to successfully achieve business objectives, including
the effects of unexpected costs, liabilities or delays, and if the
transaction is completed, the ability of the Company to allocate
the net proceeds as stated above. Forward-looking information
involves a number of known and unknown risks and uncertainties,
which, if incorrect, may cause actual results to differ materially
from those anticipated by the Company, including, without
limitation, the risks that the transaction as described in the
Agreement may not be completed and the parties may be unable to
realize on the anticipated benefits of the transaction.
Accordingly, readers should not place undue reliance on
forward-looking information.
For additional information with respect
to these and other factors and assumptions underlying the
forward-looking information made in this news release, see the
Company’s most recent management's discussion and analysis, as well
as other public disclosure documents that can be accessed under the
issuer profile of “McChip Resources Inc.” on SEDAR at
www.sedar.com. The forward-looking information set forth herein
reflects the Company’s reasonable expectations as at the date of
this news release and is subject to change after such date. The
Company disclaims any intention or obligation to update or revise
any forward-looking information, whether as a result of new
information, future events or otherwise, other than as required by
law. The forward-looking information contained in this news release
is expressly qualified by this cautionary statement.
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