Lorraine Copper Announces Adoption of 10% Rolling Stock Option Plan
Vancouver, B.C. Lorraine Copper Corp. (“Lorraine” or the “Company”) announces that its board of directors has elected to adopt a 10% “rolling” Stock Option Plan (“New Stock Option Plan”), to replace the “fixed number” Stock Option Plan approved by the board of directors on September 12, 2016.
The adoption of the New Stock Option Plan is subject to the Company receiving shareholder approval therefor at its next annual general meeting, expected to be held in October 2018, as well as acceptance by the TSX Venture Exchange (the “Exchange”).
Stock Option Grant
The Company has approved, subject to receiving shareholder approval and Exchange acceptance, the granting of stock options under the New Stock Option Plan to directors, officers, and consultants for the purchase of 900,000 common shares of the Company. The options will vest immediately. These options have a five-year term and allow the holder to purchase one common share of the Company for $0.13 a share until June 18, 2023. These recently granted options cannot be exercised until such time as both the New Stock Option Plan and any options granted thereunder have been specifically approved by shareholders and the New Stock Option Plan has been accepted by the Exchange
About Lorraine Copper
Lorraine Copper holds is a Canadian mineral exploration company that is acquiring and advancing copper, gold, zinc, silver and molybdenum projects at intermediate to advanced stages that hold significant resources. Lorraine Copper currently owns three properties all of which have defined resources: Lorraine, OK and Stardust (formerlyLustdust). The Stardust project is subject to an option/joint venture with Sunmetals Corp.and the Lorraine project is subject to a joint venture with Teck /Resources. For more information please visit the Company’s website at www.lorrainecopper.com.
On behalf of the board of directors of the Company;
David Douglas, CPA, CA
Lorraine Copper Corp.
FOR FURTHER INFORMATION REGARDING LORRAINE COPPER PLEASE CONTACT:
(604) 681-7913 or
(888) 656-6611 (Toll Free)
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 news release.