Business
Mason awards contracts for upcoming drilling
▪       DRILLING CONTRACT AWARDED TO FORAMEX ▪ &#...
About this update from Transoceanic Investments Inc.
[{"type":"text","content":"\n\n\n▪     DRILLING CONTRACT AWARDED TO FORAMEX▪     AGAT LABORATORIES SELECTED FOR ANALYTICAL WORK\n\n\n/NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR\n DISSEMINATION IN THE UNITED STATES/\n\n\nMONTREAL, Oct. 29, 2013 /CNW/ - Mason Graphite Inc. (\"Mason Graphite\" or the \"Company\") (TSXV: LLG) announces that it has\n awarded a drilling contract to Foramex, a diamond drilling specialized\n company based in Rouyn-Noranda, Quebec, for its upcoming exploration\n campaign. The Company has also selected AGAT Laboratories, a highly\n specialized science and laboratory service provider, to conduct\n analytical work on the drill core at its facilities in Mississauga,\n Ontario.\n\n\nNon-brokered Private Placement\n\n\nMason Graphite has closed its previously announced non-brokered private\n placement of common shares (the \"Offering\"). Mason Graphite issued\n 153,000 common shares at a price of $0.40 per share for gross proceeds\n of $61,200. The proceeds of the Offering will be used for general\n corporate purposes.\n\n\nThe common shares issued pursuant to the Offering will be subject to a\n four month hold period that expires on March 1, 2014. The Offering\n remains subject to final acceptance by the TSX Venture Exchange.\n\n\nGrant of Stock Options\n\n\nIn accordance with its stock option plan, Mason Graphite has granted\n 525,000 stock options to officers of the Company. Such options may be\n exercised at a price of $0.38 per common share for a period of five\n years from the date of grant and vest in three equal installments over\n a period of two years, with the first installment vesting on the date\n of grant, the second installment vesting on the first anniversary of\n the date of grant and the third installment vesting on the second\n anniversary of the date of grant.  The stock option grant is subject to\n the approval of the TSX Venture Exchange.\n\n\nQualified Person\n\n\nJean L'Heureux, Eng., Mason Graphite's Executive Vice-President of\n Process Development and a Qualified Person as defined by National\n Instrument 43-101, has reviewed and approved the scientific and\n technical content of this press release.\n\n\nAbout Mason Graphite \n\n\nMason Graphite is a Canadian mining company focused on the exploration\n and developmen...