VANCOUVER, BRITISH COLUMBIA--(Marketwired - May 12, 2016) - IDM Mining Ltd. (TSX VENTURE:IDM) announces the grant of stock options to directors, officers, employees and consultants to purchase an aggregate of 10,500,000 common shares of the Company at an exercise price of $0.19 per share for a five year term expiring May 11, 2021.
IDM approved and adopted a new "rolling 10%" Stock Option (the "New Plan") in December 2015 as a result of its transition to the TSX Venture Exchange. The New Plan replaces and supercedes the Company`s previous "rolling 10%" Stock Option and Bonus Share Plan that was originally adopted in April 2010. The New Plan must be approved and re-approved on an annual basis by the shareholders at each annual general meeting of the Company as required by the policies of the TSX Venture Exchange. The next annual general meeting of shareholders of the Company will be held on June 14, 2016.
The granting of the above options to purchase a total of 10,500,000 common shares were granted under the New Plan and are subject to the Company receiving the necessary shareholder and regulatory approvals of the New Plan and the option grants. If such approvals are not obtained, the options granted under the New Plan will terminate. Subject to such approvals, the options shall vest immediately as of the date of the grant.
ABOUT IDM MINING LTD.
IDM Mining Ltd. is a mineral exploration and development company (TSX-V: IDM) based in Vancouver, BC, Canada. The Company's current exploration and development activities are focused on precious metals in British Columbia and the Yukon Territory, with a primary focus on the high grade underground Red Mountain gold project. Further information can be found on the Company's website at www.IDMmining.com.
ON BEHALF OF THE BOARD of IDM Mining Ltd.
Robert McLeod, President, CEO and Director
"Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release."