TSX Venture Exchange: JZR
VANCOUVER,
Oct. 17, 2012 /CNW/ - Jazz
Resources Inc. (TSXV: JZR) announces that the Company has
reprised an aggregate of 1,525,000 outstanding incentive stock
options to reduce the exercise price from $0.45 to $0.17. The options are governed by
the Company's stock option plan and are an important component of
the Company's executive compensation strategy providing employees,
consultants, officers and directors with long-term equity-based
performance incentives. The options have been re-priced to
bring them more in line with current market prices of the Company's
common shares.
An aggregate of 1,025,000 of these options are
held by insiders and, in accordance with the requirements of the
TSX Venture Exchange policies, the amendments to such options are
subject to the approval of the Company's "disinterested"
shareholders. Accordingly, approval to the re-pricing of the
insiders' options was sought and obtained at the Company's 2012
annual general meeting held on September 26, 2012.
The re-pricing of the options is subject to
regulatory approval and none of the re-priced options may be
exercised prior to receipt of regulatory approval.
On behalf of the Board of Directors,
"Bryan Glen"
President
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. All statements, other than
statements of historical fact, constitute "forward-looking
statements" and include any information that addresses activities,
events or developments that the Company believes, expects or
anticipates will or may occur in the future including the Company's
strategy, plans or future financial or operating performance and
other statements that express management's expectations or
estimates of future performance.
All such forward-looking information and
statements are based on certain assumptions and analyses made by
the Company's management in light of their experience and
perception of historical trends, current conditions and expected
future developments, as well as other factors management believes
are appropriate in the circumstances. These statements,
however, are subject to known and unknown risks, uncertainties and
other factors that may cause the actual results, level of activity,
performance or achievements of the Company to be materially
different from those expressed, implied by or projected in the
forward-looking information or statements. Important factors
that could cause actual results to differ from these
forward-looking statements include but are not limited to: risks
related to the exploration and potential development of the
Company's projects, the actual results of current exploration
activities, conclusions of economic evaluations, changes in project
parameters as plans continue to be refined, future prices of gold,
as well as those factors discussed in the sections relating to risk
factors of the Company set out in certain of the Company's
disclosure documents filed on SEDAR.
There can be no assurance that any
forward-looking statements will prove to be accurate, as actual
results and future events could differ materially from those
anticipated in such statements. Accordingly, readers should not
place any undue reliance on forward-looking information or
statements. Except as required by law, the Company does not
intend to revise or update these forward-looking statements after
the date of this document or to revise them to reflect the
occurrence of future unanticipated events.
SOURCE Jazz Resources Inc.