June 10, 2014
Cap-Ex Iron Ore Ltd (TSX-V: CEV) (“Cap-Ex” or the “Company”) announces that it has agreed, subject to the acceptance of the TSX Venture Exchange (the "Exchange"), to reduce the exercise price of existing stock options to purchase up to a total of 5,140,000 common shares of the Company (the "Existing Options"), of which 4,100,000 Existing Options are held by insiders of the Company.
The Existing Options are currently exercisable at prices ranging from $0.125 per share to $0.41 per share and expire from October 19, 2015 to June 4, 2018. After taking into account the Company's proposed 4 to 1 share consolidation announced May 12, 2014, the holders of Existing Options will be entitled to purchase, in the aggregate, up to 1,285,000 post-consolidated shares of the Company at a reduced exercise price of $0.08 per share, being 4 times the closing price of the Company's shares on June 9, 2014.
Under the policies of the Exchange, the reduction in the exercise price of Existing Options held by insiders of the Company is subject to disinterested shareholder approval, which approval will be sought at the Company's special meeting of shareholders to be held on July 9, 2014.
About Cap-Ex Iron Ore Ltd.
Cap-Ex Iron Ore Ltd. is a Canadian listed company, focused on the development of its wholly owned Block 103 Iron Ore Project in the Labrador Trough, near the mining town of Schefferville, Québec. The Block 103 property is strategically located close to an existing railway that can provide a direct link to a shipping port and is adjacent to Tata Steel-New Millenium Iron Corp. LabMag and KeMag deposits and the Tata-New Millennium oxide deposits to the east.
For additional information please visit the Company’s website at www.cap-ex.ca.
CAP-EX IRON ORE LTD.
On behalf of the Board
CEO and Director
For Investor Relations, please contact:
Cautionary Note Regarding Forward-looking Information
This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information. Specifically, the reduction in the exercise price of stock options previously granted to insiders of the Company is subject to disinterested shareholder approval and the acceptance of the TSX Venture Exchange. There are no assurances that such approval and acceptance will be obtained in a timely manner or at all. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
NEITHER 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.