VANCOUVER, CANADA (February 4, 2019) – Regulus Resources Inc. (“Regulus” or the “Company”) (TSX.V – REG) announces that incentive stock options have been granted to directors, officers, employees and consultants to purchase up to 5,550,000 common shares at a price of $1.60 per share for five years, pursuant to its Stock Option Plan.
The bulk of these options were granted to insiders to replace options that they had recently exercised well before their expiry dates to ensure that the Company had sufficient capital to continue funding the Phase 1 drill program at its AntaKori project in Peru while the Company was precluded from raising capital because of the Aldebaran spinout transaction.
The Company currently has 90,994,594 shares issued and outstanding, along with 7,750,000 options (including the options described above) and 4,404,759 warrants outstanding.
Caution Regarding Forward-Looking Statements
This press release includes certain statements that may be deemed “forward-looking statements”. All statements in this discussion, other than statements of historical facts, that address future exploration drilling, exploration activities, anticipated metal production, internal rate of return, estimated ore grades, commencement of production estimates and projected exploration and capital expenditures (including costs and other estimates upon which such projections are based) and events or developments that the Company expects, are forward looking statements. Although the Company believes the expectations expressed in such forward looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include metal prices, exploration success, continued availability of capital and financing, and general economic, market or business conditions. Accordingly, readers should not place undue reliance on forward-looking statements.