AB, May 6, 2022 /CNW/ - Huntington
Exploration Inc. (TSXV: HEI) ("Huntington" or the
"Company") Huntington Exploration Inc. (TSXV: HEI) (the
"Company" or "Huntington") announces that pursuant to
Company's stock option plan, 3,350,000 stock options at an exercise
price of $0.20 were granted to the
directors, officers, and consultants to the Company.
The stock options granted vest immediately and are exercisable
for a period of ten years from date of grant. The Company relied on
sections 5.5 (a) and (b) and 5.7(a) and (b) of MI 61-101 as the
exemption from the minority approval requirements of MI 61-101 in
respect of the grant of options to the directors and officers of
the Company as neither the fair market value of the subject matter
of, nor the fair market value of the consideration for, the grant
of the options to the director of the Company exceeded 25% of the
Company's market capitalization.
There are currently 95,320,817 shares issued in the Company.
Huntington Exploration is focused on the exploration and
development of its portfolio of precious metals properties in
Mexico and Canada. The Company's flagship El Grande gold
project covers 550 square kilometers in the southern extension of
the prolific Sierra Madre Occidental gold-silver belt in the state
of Nayarit, Mexico and
demonstrating significant gold and silver mineralization.
The Company also owns two early-stage gold exploration projects
in Northwestern Ontario, in which
the Company is engaged in ongoing exploration. The Winora Project
is located near Lingman lake, 325 km north of Red Lake and consists of 17 patented mining
claims in that are estimated to be within 500 m and on strike with the historic Lingman
Lake gold deposit. The Quartz Lake Project is located 50km
east of the prolific Red Lake
district and demonstrates many similar geological features of other
successful exploration plays in the region.
Huntington Exploration is committed to sustainable and
responsible exploration and business activities in line with
industry best practices, supportive of all stakeholders, including
the local communities in which the Company operates.
For more information, please visit the Company's website at
ON BEHALF OF THE BOARD OF HUNTINGTON EXPLORATION INC.
President & CEO
Note: The Company's new website is expected to launch in Q2
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.
SOURCE Huntington Exploration Inc.