Total Shares Outstanding: 22.2 MM
Fully Diluted: 29.2 MM
SUDBURY, ON, Jan. 16, 2012 /CNW/ - Transition Metals Corp. (TSX-V: XTM) ("Transition Metals" or the "Company") has granted a total of 505,000 incentive stock options to directors and employees of the Company pursuant to the Company's stock option plan. The options are exercisable for a period of five years at a price of $0.40 per share and are subject to the approval of the TSX Venture Exchange. The options and the shares issuable upon exercise shall be subject to a four-month hold period from the date of the grant of the options. This grant replaces the previous grant announced on August 25, 2011.
About Transition Metals Corp
Transition Metals is a public mining exploration company listed on the Toronto Venture Exchange (TSX) under the trading symbol - XTM.V. It is focused on the identification, exploration and development of new gold opportunities in established and emerging gold districts in Canada. The Company currently owns or controls an interest in six early stage gold exploration properties in Ontario and British Columbia. The Company is committed to building shareholder value through the identification and development of new low cost, high quality exploration projects while minimizing shareholder dilution through funding partnerships and revenue generating opportunities.
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.
Cautionary Note on Forward-Looking Information
Except for statements of historical fact contained herein, the information in this news release constitutes "forward-looking information" within the meaning of Canadian securities law. Such forward-looking information may be identified by words such as "plans", "proposes", "estimates", "intends", "expects", "believes", "may", "will" and include without limitation, statements regarding estimated capital and operating costs, expected production timeline, benefits of updated development plans, foreign exchange assumptions and regulatory approvals. There can be no assurance that such statements will prove to be accurate; actual results and future events could differ materially from such statements. Factors that could cause actual results to differ materially include, among others, metal prices, competition, risks inherent in the mining industry, and regulatory risks. Most of these factors are outside the control of the Company. Investors are cautioned not to put undue reliance on forward-looking information. Except as otherwise required by applicable securities statutes or regulation, the Company expressly disclaims any intent or obligation to update publicly forward-looking information, whether as a result of new information, future events or otherwise.
No securities regulatory authority has either approved or disapproved of the contents of this news release. The securities being offered have not been, and will not be, registered under the United States Securities Act of 1933, as amended , or any state securities laws, and may not be offered or sold in the United States unless pursuant to an exemption there from. This press release is for information purposes only and does not constitute an offer to sell or a solicitation of an offer to buy any securities of Transition Metals in any jurisdiction.
Further information is available on the Company's website at: www.transitionmetalscorp.com or contact:
President and CEO
Transition Metals Corp.
Tel: (705) 669-0590
(416) 815-0700 - extension 267