BC Moly Ltd. Announces Shareholder Approval of Re-Pricing of Options
BURNABY, BRITISH COLUMBIA--(Marketwired - Dec 19, 2016) - BC Moly Ltd. (TSX VENTURE:BM) (the "Company" or "BC Moly") announces that, at the Company's Annual and Special General Meeting held on December 2, 2016, shareholders approved the re-pricing of a total of 600,000 options ("Options") to purchase common shares of the Company to an amended exercise price of $0.05 per share. The TSX Venture Exchange requires that the re-pricing of the Options be approved by the holders of a simple majority of the Company's shares, excluding the shares beneficially owned by Insiders of the Company who hold the re-priced Options and associates of those Insiders.
The Company further announces that it has received approval from the TSX Venture Exchange for the re-pricing of the Options.
About BC Moly Ltd.:
BC Moly Ltd. is a Canadian mineral exploration company focused on the development of its Storie Property molybdenum deposit. The Storie Property is situated about 6 km southwest of Cassiar, British Columbia. Cassiar is located 15 km (by paved road) west of Highway 37 which provides access to Watson Lake, Yukon, to the north and Dease Lake and Stewart, British Columbia, to the south.
On behalf of BC Moly Ltd.
Edward Yurkowski, President and CEO
The TSX Venture Exchange has not reviewed this news release and does not accept responsibility for the adequacy or accuracy of this release. This news release includes certain statements that may be deemed "forward-looking statements". All statements, other than statements of historical facts, that address such matters as future exploration, drilling, exploration activities, potential mineralization and resources and events or developments that the Company expects, are forward looking statements and, as such, are subject to risks, uncertainties and other factors of which are beyond the reasonable control of the Company. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include such matters as market prices, exploitation and exploration results, continued availability of capital and financing, and general economic, market or business conditions. Any forward-looking statements are expressly qualified in their entirety by this cautionary statement. The information contained herein is stated as of the current date and subject to change after that date.