TSX Venture Exchange
Trading Symbol: CFI
ST. JOHN'S, March 15, 2013 /CNW/ - Canada Fluorspar Inc.
(TSXV:CFI) ("CFI" or the "Company") announces that it granted an
aggregate total of 900,000 stock options ("Options") to seven
directors and officers of the Company. The Options were granted on
February 28, 2013.
All Options were granted at an exercise price of
$0.285 per common share of the
Company (the "Common Shares"), the closing price of the Common
Shares on the date of the grant, and vest when quantities of
fluorspar are available for shipment at the Company's St. Lawrence
Project (as defined in the Company's Management Discussion &
Analysis for the year ended December 31,
2012). The Options expire on February
27, 2023.
About the Company
The Company is a specialty mineral resource
company engaged in the development of fluorspar deposits located in
St. Lawrence, Newfoundland,
Canada, and is reactivating the existing Blue Beach North
and Tarefare underground fluorspar mines, expanding the existing
mill, constructing a new, environmentally-sound Tailings Management
Facility through Newspar, which is a 50/50 joint venture with
Arkema. The Company is also building a new deep-water marine
terminal in the outer St. Lawrence Harbour for the export of
fluorspar concentrate product.
For more information please see:
www.canadafluorspar.com
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.
Cautionary Note and Forward-Looking
Statements
This press release contains forward‐looking
statements which include, but are not limited to: anticipated
production, commencement of construction and production,
anticipated timing for completion of metallurgical testing, the
commencement of the drilling program, current development and
operating objectives and outlook, expectations, opinions,
forecasts, projections, guidance or other statements that are not
statements of fact. Although the Company believes that the
expectations reflected in such forward‐looking statements are
reasonable, it cannot give any assurance that such expectations
will prove to be correct. Results of the Company may be affected by
a variety of variables and risks associated with mining development
including: loss of market, volatility of commodity prices, currency
fluctuations, imprecision of reserve estimates, environmental
risks, competition from other producers, ability to access
sufficient debt and equity capital from internal and external
sources, ability to generate sufficient cash flow to meet its
current and future obligations, regulatory approvals affecting
construction and mining operations. Such forward‐looking statements
are also based on a number of assumptions which may prove to be
incorrect, including, but not limited to, assumptions about the
following: the availability of financing for exploration and
development activities; the estimated timeline for the development
of the project at St. Lawrence,
the supply and demand for, and the level and volatility of the
price of fluorspar, the assumptions on which resource estimates are
based, the receipt of necessary permit, market competition, ongoing
relations with employees and impacted communities, and general
business and economic conditions. Should one or more of the risks
or uncertainties involved in forward‐looking statements prove
incorrect, actual results may vary materially from those
anticipated, believed, estimated or expected. Accordingly, readers
should not place undue reliance on forward‐looking
statements.
Forward‐looking statements are qualified
entirely by this cautionary statement and are given only as at the
date of this press release. The Company disclaims any obligation to
update or revise any forward looking statements, whether as a
result of new information, future events or otherwise, except as
required by law.
SOURCE Canada Fluorspar Inc.