VANCOUVER, BRITISH COLUMBIA–(Marketwired – Apr 1, 2014) – Southern Arc Minerals Inc. (TSX VENTURE:SA) (OTCQX:SOACF) (“Southern Arc” or the “Company”) reports that pursuant to the Company’s stock option plan, it has agreed to re-price 7,935,000 incentive stock options issued to certain directors, officers, employees and consultants of the Company. The options were originally granted with exercise prices ranging from $0.25 to $2.00, and the Company will reduce the exercise price to $0.10. Except for the amendment of the exercise price, all original terms of the options will remain in effect.
The amendment to the exercise price is subject to the approval of the TSX Venture Exchange. The Company intends to obtain disinterested shareholder approval for the amendment to the exercise price of the stock options granted to insiders at the Company’s 2014 annual general meeting. Insiders may not exercise options at the new price until such approval is obtained.
On behalf of the Board of Southern Arc Minerals Inc.
John Proust, Chairman Chief Executive Officer
About Southern Arc
Southern Arc Minerals Inc. is a Canadian mineral exploration company focused on gold and copper-gold exploration. The Company is advancing two properties in Indonesia: West Lombok, a resource-stage property with several gold-rich copper porphyry and epithermal gold vein prospects, and East Elang, a grassroots exploration property that will be advanced in partnership with Vale International SA. Southern Arc also owns 25% of Eagle Hill Exploration, which owns the high-grade Windfall Lake Gold Project in Quebec, Canada. More information is available at www.southernarcminerals.com.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as such term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release contains forward-looking statements relating to expected or anticipated future events or results that are forward-looking in nature and, as a result, are subject to certain risks and uncertainties. In particular, this news release contains forward-looking statements and assumptions pertaining to the granting of shareholder and regulatory approvals, the timing for receipt of shareholder and regulatory approvals, and the Company’s ability to execute and implement future plans. Actual results achieved may vary from the information provided herein as a result of numerous known and unknown risks and uncertainties, including general economic, market and business conditions, the regulatory process and actions, technical issues, new legislation, potential delays or changes in plans, the occurrence of unexpected events and other factors.