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Nevada Exploration Inc. announces commencement of trading, operational progresses and granting of stock options
Nevada Exploration Inc. announces commencement of trading, operational progresses and granting of stock options.
About this update from Urz3 Energy Corp.
[{"type":"text","content":"\n\n\n\nMONTREAL, March 9 /CNW Telbec/ - Nevada Exploration Inc. (TSXV-NGE)\n("NGE") is pleased to announce that its common shares have commenced trading\non the TSX Venture Exchange under the symbol NGE.\n\n\nWade Hodges, the President of NGE said "the completion of our financings\nand our listing on the TSX Venture Exchange is a significant milestone in the\nevolution of NGE as it has secured the funds needed to pursue our exploration\nprogram on our two wholly-owned properties, to continue our extensive water\nsampling using our unique technology and equipment, and to add to our land\nholdings by using our water chemistry database to identify prospective\ntargets".\n\n\nAs stated in its 43-101 technical report, the primary exploration focus\nof NGE is aimed at the Fletcher Junction property where preliminary water\nsampling analysis results indicated anomalous concentration of gold in\nunderground water. In order to pursue its drilling program on the Fletcher\nJunction property, NGE secured, concurrently with the listing of its common\nshares on the TSX-V, all the necessary permits required to proceed with the\ndrilling program and is currently in the process of securing a drill rig.\nConcurrently with preparing to drill at Fletcher Junction, NGE is moving\nforward to acquire additional properties already identified using management's\nextensive Nevada-based exploration experience coupled with its proprietary\nwater chemistry database and sampling protocol - negotiations with land owners\nare in progress and a staking crew has been contracted.\n\n\nNGE also announced the commencement in office of the new board of\ndirectors previously announced and the granting to them of an aggregate of one\nmillion stock options. Each stock option entitles the holder to purchase one\ncommon share of NGE at a price of $0.60 per share until March 9, 2012. Such\noptions shall vest as to one-third of the options, on March 9, 2008, as to the\nsecond one-third of the options, on March 9, 2009; and as to the final\none-third of the options, on March 9, 2010. The options and any securities\nissued upon the exercise of the options are subject to a four-month hold\nperiod. The options were granted pursuant to stock option plan of NGE which\nreserves an aggregate total of stock options equivalent to 10% of the issued\nand outstandi...