Huntington Exploration Announces Grant of Stock Options
CALGARY, Alta., May 6, 2022 /CNW/ – Huntington Exploration Inc. HE I (“Huntington“or the”Company“) Huntington Exploration Inc. HE I (there “Company” or “Huntington“) announces that under the Company’s stock option plan, 3,350,000 stock options at an exercise price of $0.20 were granted to directors, officers and consultants of the Company.
Stock options granted vest immediately and may be exercised for a period of ten years from the date of grant. The Company has relied on sections 5.5(a) and (b) and 5.7(a) and (b) of NI 61-101 as an exemption from the minority approval requirements of NI 61-101 with respect to the granting of options to the directors and officers of the Company since neither the fair market value of the object of the granting of the options to the director of the Company nor the fair market value of the consideration for the granting of the options to the director of the Company did not exceed 25% of the market capitalization of the Company.
There are currently 95,320,817 shares issued in the Company.
Huntington Exploration is focused on exploring and developing its portfolio of precious metals properties in Mexico and Canada. The Company’s flagship gold project, El Grande, covers 550 square kilometers in the southern extension of the prolific Sierra Madre Occidental gold-silver belt in the state of Nayarit, Mexico and showing significant gold and silver mineralization.
The Company also has two early-stage gold exploration projects in Northwestern Ontario, in which the Company is engaged in ongoing exploration. The Winora project is located near Lingman Lake, 325 km north of Red Lake and consists of 17 patented mining concessions which are estimated at less than 500 meters and on strike with the historic Lingman Lake gold deposit. The Quartz Lake project is located 50 km east of the prolific Red Lake district and has many similar geological features to other successful exploration areas in the region.
Huntington Exploration is committed to conducting sustainable and responsible exploration and business activities in accordance with industry best practices, supporting all stakeholders, including the local communities in which the Company operates.
For more information, please visit the Company’s website at www.huntingtonexploration.ca.
ON BEHALF OF THE HUNTINGTON EXPLORATION BOARD INC.
President and CEO
Email: [email protected]
Note: The company’s new website is expected to launch in Q2 2022.
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.
SOURCE Huntington Exploration Inc.
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