Montréal, September 4, 2018 – Sphinx Resources Ltd. (“Sphinx” or the “Corporation”)
(TSX-V: SFX) is pleased to announce that at its Annual General Meeting (“AGM”) held on August 30, 2018 on Grand Calumet Island, in the Pontiac MRC Region of Quebec, all the items were approved as follows:
- Election of François Biron, Normand Champigny, Michel Gauthier, John W.W. Hick, and Kerry E. Sparkes as directors; and
- Re-appointment of PricewaterhouseCoopers LLP as auditors.
At a Board of directors meeting following the AGM, John W.W. Hick, Normand Champigny and Ingrid Martin were confirmed in their functions as Chairman of the Board, President & Chief Executive Officer, Chief Financial Officer and Corporate Secretary, respectively. In addition, Sylvain Laberge, was re-confirmed as a member of the Corporation’s Advisory Committee.
Grant of stock options
A total of 1,775,000 stock options (the “Options”) have been granted to its directors, officers, advisory committee member, one consultant and contractors. Of this number, 980,000 have been granted to its directors and officers, 300,000 to FronTier Flex Marketing and 25,000 to its advisory committee member. These Options have an exercise price of $0.10 per share and are exercisable during a 10-year period. All Options will vest in three (3) equal tranches except for the Options granted to FronTier Flex Marketing, which vest 25% every quarter. These Options have been granted in accordance with Sphinx’s stock option plan.
Sphinx also announce that, subject to the approval by the TSX Venture Exchange, the 8,389,615 warrants due to expire on September 5, 2018 and the 1,925,000 warrants due to expire September 12, 2018 respectively have been extended for one (1) year such that the new expiry dates are September 5, 2019 and September 12, 2019, respectively.
About Québec and Sphinx
Quebec has established itself as one of the world’s most attractive mining jurisdictions, ranking 6th globally (Fraser Institute press release, February 22 2018). The Quebec government has created market confidence by following a proactive approach to mining policy. Quebec’s mining sector has also been encouraged by the clarity and certainty of the legal and regulatory framework adopted by its government. Sphinx is engaged in the generation and acquisition of exploration projects in Québec with a focus on zinc.
For further information, please consult Sphinx’s website or contact:
Neither 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.
This press release may contain forward-looking statements that are subject to known and unknown risks and uncertainties that could cause actual results and activities to vary materially from targeted results and planning. Such risks and uncertainties include those described in Sphinx’s periodic reports including the annual report or in the filings made by Sphinx from time to time with securities regulatory authorities.