Yamiri Gold and Energy Inc. Grants New Options and Amends Existing Options

Tue Jun 30, 9:00 AM

Trading Symbol (TSXV): YGI

VANCOUVER, June 30 /CNW/ - Yamiri Gold and Energy Inc. (the "Company") announces that it has amended the exercise price of 2,500,000 existing stock options to directors, officers and a consultant and has extended the expiry date of 2,640,000 existing stock options to the date that is 10 years from the date of the original grant of the options. The options are governed by the Company's stock option plan (the "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 2,500,000 options are being repriced to bring them more in line with current market prices of the Company's common shares so as to ensure that the interests of management are aligned with shareholders' interests and to link performance compensation to enhancement of shareholder value.

The 2,500,000 options are being extended and repriced to $0.11 per share and consist of 1,500,000 options repriced from $0.33 per share and now expiring on December 2, 2015; and 1,000,000 options repriced from $0.25 per share and now expiring on July 23, 2017. The term of an additional 140,000 options is being extended with a new expiry date of January 27, 2015, however only 100,000 of these are subject to disinterested shareholder approval.

The amendments to the options are subject to acceptance for filing by the TSX Venture Exchange and the approval of the disinterested shareholders of the Company, and therefore none of the amended options may be exercised at the new price prior to such approval being obtained.

The Company has also granted new options to directors, officers, charities and consultants of the Company to purchase up to 4,050,000 shares at a price of $0.11 per share exercisable for a period of ten years, subject to regulatory approval.

    
    YAMIRI GOLD AND ENERGY INC.

    Gordon Keep,
    Secretary


    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.

Contacts

Phone: (604) 609-6110