Vancouver, B.C. - Tower Resources Ltd. (“Tower” or the “Company”) announces that it has granted stock options to acquire up to 900,000 common shares of the Company, of which an aggregate of 650,000 were granted to certain directors and officers of the Company. Each of the stock options is exercisable for a five year term expiring on September 28, 2022 and exercisable until that time at a price of $0.16 per common share. On September 27, 2017, the last day that the Company's common shares traded prior to the granting of the stock options, the closing price of the common shares on the TSX Venture Exchange was $0.155 per share. The options are subject to vesting provisions, one-eighth vesting on the date of grant and an additional one-eighth to vest every three months thereafter. The stock options, and any common shares issued upon exercise of the stock options, are subject to a four month resale restriction expiring January 28, 2018.
About Tower Resources
Tower Resources Ltd. (TWR.V) is a Vancouver based junior mineral exploration company focused on the discovery and advancement of economic mineral projects, primarily in British Columbia. The company’s key exploration assets are Rabbit North, Nechako Gold and More Creek.
Tower Resources Ltd.
Mark Vanry - Director, CEO & President
Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.