Geoinformatics Exploration Announces Grant Of Stock Options
TORONTO, ONTARIO -- Geoinformatics Exploration Inc. (TSX VENTURE: GXL) (“Geoinformatics” or the “Company”) today announced that it has granted stock options to certain of the Company’s directors and officers to purchase up to 2,000,000 common shares under the Company’s Stock Option Plan (the “Plan”).
The stock options have an exercise price of $0.16 per share, a term of five years with an expiry date of March 7, 2012, and vest upon date-of-grant. These options were granted pursuant to the Company’s shareholder-approved stock option plan and are governed by the terms of the Plan. Under the Plan, the Company can issue up to 11,489,102 stock options to purchase common shares and, including this granting, currently has 9,707,000 stock options outstanding.
Geoinformatics is a global exploration company which has developed a unique and innovative approach to mineral exploration. The Company is actively exploring several properties located in British Columbia, the Battle Mountain Trend region of Nevada, and Sinaloa, Mexico. The Company also has an extensive portfolio of other property interests and royalties covering a wide range of minerals in Australia, New Zealand, Mexico and North America.
The Company has entered into a Master Strategic Alliance Agreement (the “Master Agreement”) with Kennecott Exploration Company under which it will use its scientific and technology platform (the “Geoinformatics Process”) which integrates data aggregation, data mining and three-dimensional modeling to identify and prioritize 30 or more exploration drill targets over the initial two years of the Master Agreement.
The Geoinformatics Process has been designed to assist in understanding and quantifying risk at a much earlier stage of the exploration cycle than has traditionally been available. The Company’s objective is to advance its properties to a stage of commercial development by applying a faster, less expensive and more reliable analytical methodology to resources exploration.
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