Monday, April 18, 2011

Century Mining Corporation Grants Stock Options

BLAINE, WASHINGTON--(Marketwire - April 18, 2011) - Century Mining Corporation ("Century" or the "Company") (TSX VENTURE:CMM) announces that it has granted a total of 930,000 stock options, including 650,000 options to independent directors and the balance to employees of the Company. The stock options are exercisable into common shares of Century at an exercise price of C$0.425 per share for a period of five years. Century's common shares closed at C$0.425 on the TSX Venture Exchange on April 14, 2011.

Century has 434,036,751 common shares issued and outstanding. Under the terms of the Company's "rolling" Incentive Stock Option Plan, a maximum of 43,403,675 shares are available to be issued pursuant to the exercise of options at this time. Including this grant of 930,000 options, a total of 14,921,667 shares have been reserved for issuance pursuant to outstanding option grants. A further 28,482,008 shares are available for issuance pursuant to future option grants at this time.

About Century Mining Corporation

Century Mining Corporation is a Canadian gold producer and holds strategic land positions in Canada, the United States and Peru. The Company's strategy is to grow to its gold production through existing mine expansions and acquisitions of other strategic and synergistic gold opportunities.

On behalf of Century Mining Corporation,

Daniel J. Major, President & CEO


nt300 said...

Interesting how this NR gets released just hours after the Committee's wonderfully written NR...

Gilmourr said...

Forget the stock options, just give them burlap bags with dollar signs on them

bigjohn37 said...

Someone should tell Daniel Major that CMM DOES NOT have any INDEPENDENT directors. If there are any, I'd sure like to know who they are, so that our representative committee could contact them.

dave peters said...

Why does CMM's Marketwire news release appear on Yahoo and not the Committee's release?

I am not suggesting there is a conspiracy ... rather, does one have to pay Marketwire and / or Yahoo something extra in order to have one's news releases more widely distributed?

PayDay said...

How can they even think of rewarding themselves with 'options'? For WHAT??!! A 0.39c stock price that crash in less than a month?

Monkeys couldn't f* up CMM as much as these 'wizards' could do last few weeks - can't even make Lamaque show profits at $1500 gold.

Wonder why Major is handing out CMM options...shouldn't he be giving out White toilet paper instead?

Rickydee said...

um so they are filling their pockets before they get kicked out? How is this even allowed, option grants should only be performance based and these guys have underperformed, if anything they should be giving shares back.

Wingfong said...

Out of the 930,000 warrants issue, I presume they were distributed as follows (correct me if they are wrongly stated)
250,000 - campoy
I have no objection for the 280,000 warrants to employees, possibly as an incentive to boost morale n to induce their staying with the Co. As for the other 650,000 to the 3 directors whom I thk have already disqualified themselves as independent directors, the warrants issued to them don't reflect rewards for outstanding services as there is none to show. Instead their utter failure has caused destruction to our share value which is as plain as day. AS SUCH IT IS IMMORAL FOR THEM TO TAKE THESE WARRANTS FOR THEMSELVES AS THEY DO NOT DESERVE TO BE REWARDED. On the other hand, I would strongly suggest they take immediate action to reject these warrants n to resign themselves from the positions as I do not see their contributions as desirable. Am I talking about men with high corporate integrity n moral standard?

bigrattler said...

these directors, and I use the term losely, should give all their options back since they are useless people, they should even be sued for not doing their job of representing ALL the shareholders best interests not just 2 of them. Major should also give his options back and as CEO he should be sued for loss of revenue because he makes the decisions and he decided to basically stop mining hence the low grades. I am not a mining expert but after a year of mining shouldn't they have been in the high grade ore not going backwards and decreasing the grades? But I know the low grades are part of the "Grand Scam". When you virtually stop mining and just put garbage through the mill and there is no revenue to pay the miners, the money has to come from somewhere and I suspect that is where the WTG money went.

Wingfong said...

So this brillant ceo has already found a way to burn up the +7million derived from the previous lot of Fin's warrants exercised by someone else without much mine progress/result to show?