Eros Announces AGM Results and Grant of Options
VANCOUVER, Sept. 1, 2017 /CNW/ - Eros Resources Corp. (TSX.V: ERC) ("Eros" or the Company") is pleased to announce the results of its Annual General Meeting, held on August 25, 2017. All of the resolutions presented to the shareholders were approved with over 99% of votes cast being in favour of each resolution (see the SEDAR filing of the Company's Information Circular, dated August 4, 2017).
In addition, on August 29th, 2017, the Board of Directors granted 1,150,000 incentive stock options to directors, officers and consultants of the Company, subject to TSX Venture Exchange approval. The options will have a term of 5 years, expiring on August 29, 2022. Each option will allow the holder to purchase one common share in the Company at a price of $0.165. All of the options are subject to vesting, with half vesting immediately and half vesting one year after granting. Any shares issued on the exercise of these stock options will be subject to a four month hold period from date of grant.
About Eros
Eros Resources Corp. is a well-financed Canadian public company focused on the exploration and development of resource projects in North America. Eros also holds an investment portfolio which includes 48 million shares of Skeena Resources Ltd., 4.0 million shares of Westcore Energy Limited, 6.75 million shares of Bullfrog Gold Corporation and a number of other equity positions in junior exploration companies. Eros also has an interest in three wells in the Flaxcombe oil field in Saskatchewan.Under the agreement, Eros will hold a 90% interest until its $1.6 million investment is recovered and thereafter will share a 50% interest with the operator, Westcore Energy Ltd.
On behalf of the Board of Directors of
Eros Resources Corp.,
Ron Stewart
President & CEO
Cautionary note regarding forward-looking statements
Certain statements made and information contained herein may constitute "forward looking information" and "forward looking statements" within the meaning of applicable Canadian and United States securities legislation, including, among other things, information with respect to this presentation. These statements and information are based on facts currently available to the Company and there is no assurance that actual results will meet management's expectations. Forward-looking statements and information may be identified by such terms as "anticipates", "believes", "targets", "estimates", "plans", "expects", "may", "will", "until", "could" or "would". Forward-looking statements and information contained herein are based on certain factors and assumptions regarding, among other things, the estimation of mineral resources and reserves, the realization of resource and reserve estimates, metal prices, taxation, the estimation, timing and amount of future exploration and development, capital and operating costs, the availability of financing, the receipt of regulatory approvals, environmental risks, title disputes and other matters. While the Company considers its assumptions to be reasonable as of the date hereof, forward-looking statements and information are not guarantees of future performance and readers should not place undue importance on such statements as actual events and results may differ materially from those described herein. The Company does not undertake to update any forward-looking statements or information except as may be required by applicable securities laws
Neither TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.
SOURCEEros Resources Corp.
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