JIULIAN RESOURCES INC. (TSX-V: JLR) (“Jiulian” or the “Company“) announces that its Board of Directors has approved an amendment to its stock option plan subject to the approval by the shareholders of the Company at the annual general meeting of shareholder to be held later this year (the “AGM”) and upon receipt of final approval by the TSX Venture Exchange (the “Exchange”).
The Company proposes to replace its current 10% fixed plan (the “Prior Plan”) with a rolling 10% stock option plan (the “2020 Option Plan”). Under the 2020 Option Plan, the Company may grant options to acquire common shares of the Company equal to 10% of the issued and outstanding shares from time to time subject to the terms and conditions prescribed by the Exchange and applicable securities laws.
Current options outstanding to purchase common shares of the Company granted prior to the amendment will continue to be exercisable and will be governed by and subject to the terms of the 2020 Option Plan.
Pursuant to the 2020 Option Plan, the Company has granted to certain directors of the Company options to purchase an aggregate 300,000 common shares at a purchase price of $0.05 for a period of five years (“New Options”). To the extend that the number of New Options granted exceed the number of options permitted under the Prior Plan, the New Options are subject to Exchange Approval and Disinterested Shareholder Approval (as such term defined in the policies of the Exchange) and will be presented for approval at the Company’s upcoming AGM.
A copy of the proposed 2020 Option Plan will be available from the Corporate Secretary of the Company upon request and will be included in the Company’s information circular to be filed on SEDAR, at www.sedar.com for the upcoming AGM.
The Company wishes to announce the appointment of Douglas Meirelles as the Company’s President and Chief Executive Officer. Mr. Meirelles was recently appointed as director to the Company (news release April 8, 2020) and will now assume the day to day operations of Jiiulian.
Mr. Meirelles stated: “I am very excited to be transitioning to the role of President and CEO for Jiulian. I will be working closely with the board and our technical team to add to the Company’s portfolio of assets and look forward to driving shareholder value and future operations”.
The Company wishes to thank Charlie Cheng for his tenure and the Company’s success to date. Mr. Cheng will remain a director of the Company.
Jiulian is an exploration company engaged in acquiring and advancing mineral properties located in southern British Columbia. The Company’s flagship asset is the wholly-owned, 4,056-hectare Big Kidd property, located near Aspen Grove, BC. The Big Kidd property is located 25 km (approximately 15 minutes via Highway 97C) east of Merritt, BC, and 102 km west of the Company’s head office in Kelowna, BC. The Property has a network of gravel roads, LTE cellular service and a high-voltage power line running across it. Jiulian Resources is listed on the TSX-V under the symbol “JLR”.
ON BEHALF OF THE BOARD OF DIRECTORS OF
JIULIAN RESOURCES INC.
For more information regarding this news release, please contact:
Oliver Friesen, Director
Cautionary Note Regarding Forward-Looking Statements
Certain statements contained in this news release, constitute “forward-looking information” as such term is used in applicable Canadian securities laws. Forward-looking information is based on plans, expectations and estimates of management at the date the information is provided and is subject to certain factors and assumptions, including: that the Company’s financial condition and development plans do not change as a result of unforeseen events, that the Company obtains required regulatory approvals, that the Company continues to maintain a good relationship with the local project communities. Forward-looking information is subject to a variety of risks and uncertainties and other factors that could cause plans, estimates and actual results to vary materially from those projected in such forward-looking information. Factors that could cause the forward-looking information in this news release to change or to be inaccurate include, but are not limited to, the risk that any of the assumptions referred to prove not to be valid or reliable, which could result in delays, or cessation in planned work, that the Company’s financial condition and development plans change, delays in regulatory approval, risks associated with the interpretation of data, the geology, grade and continuity of mineral deposits, the possibility that results will not be consistent with the Company’s expectations, as well as the other risks and uncertainties applicable to mineral exploration and development activities and to the Company as set forth in the Company’s Management’s Discussion and Analysis reports filed under the Company’s profile at www.sedar.com. There can be no assurance that any forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, the reader should not place any undue reliance on forward-looking information or statements. The Company undertakes no obligation to update forward-looking information or statements, other than as required by applicable law.
Neither the 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.