URU Metals Limited Grant of Options and update on magnetite test work (7741C)
April 19 2017 - 11:25AM
UK Regulatory
TIDMURU
RNS Number : 7741C
URU Metals Limited
19 April 2017
URU Metals Limited
("URU Metals" or "the Company")
Grant of options and update on magnetite test work
Grant of options
URU Metals (AIM:URU), the base metals and uranium explorer and
development company, is pleased to announce that the board of the
Company has awarded a total of 30,300,000 options to directors,
advisers and contractors ("the Options"). The Options vest
immediately and expire on 19 April 2022.
15,050,000 of the Options are exercisable at 6p per share, with
the balance of 15,150,000 being exercisable at 9p per share. The
exercise prices represent a premium of 176 per cent. and 315 per
cent. respectively over the closing mid-market price of the
Company's ordinary shares on 18 April 2017.
The following Options were awarded to the Directors of the
Company and to Henry Kloepper, an Advisor to the board:
Options Options Total
at 6p at 9p Options
---------------- ---------- ---------- -----------
Jay Vieira 2,600,000 2,600,000 5,200,000
---------------- ---------- ---------- -----------
David Subotic 2,600,000 2,600,000 5,200,000
---------------- ---------- ---------- -----------
John Zorbas 5,000,000 5,000,000 10,000,000
---------------- ---------- ---------- -----------
Henry Kloepper 1,000,000 1,000,000 2,000,000
---------------- ---------- ---------- -----------
The Options granted above were in recognition of the Company's
recent capital raises which have allowed the Company to finance the
initial phases of its current technical programme and its
operational cashflow requirements for at least the next 12
months.
In addition, the Directors hold the following existing options
exercisable at 2p per share:
Existing
options
at 2p
--------------- ----------
Jay Vieira 2,000,000
--------------- ----------
David Subotic 3,000,000
--------------- ----------
John Zorbas 3,000,000
--------------- ----------
The existing options expire on 23 May 2017. Mr Zorbas has
informed the board of his intention to exercise his existing
options today.
Update on magnetite test work
Further to the announcement of 6 April 2017, the Company has
been informed that preliminary results from the laboratory on the
magnetite test work will be available by the beginning of next
week.
This announcement contains inside information for the purposes
of Article 7 of Regulation 596/2014.
END
For further information, please contact:
URU Metals Limited
John Zorbas
(Chief Executive Officer) +1 416 504 3978
Northland Capital Partners Limited
(Nominated Adviser and Joint Broker)
Edward Hutton / Matthew Johnson + 44 (0) 203 861 6625
Beaufort Securities
Limited
(Joint Broker)
Jonathan Belliss + 44 (0) 207 382 8300
SVS Securities Plc
(Joint Broker)
Tom Curran +44 (0) 203 700 0093
This information is provided by RNS
The company news service from the London Stock Exchange
END
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