| ||October 22, 2012|
MBMI Announces Grant of Stock Options and Resignation of Director
| ||Richmond Hill, Ontario October 22, 2012 -- MBMI RESOURCES INC. ("MBMI" or the "Company") (TSX-V: MBR) announces the grant of a total of 1,300,000 options to purchase common shares of the Company to officers and directors of the Company. Each option is exercisable at a price of $0.10 per share for a five year term. Half of the options granted vest immediately, while the remaining half vest on July 22, 2013.|
Resignation of Director
Mr. Anthony Ho has resigned as a director of MBMI. The Company thanks Mr. Ho for his contributions to the Company and wishes him well in his future endeavours. The Company is seeking a new director to replace the vacancy on the Board of Directors and will announce such appointment in due course.
For further information relating to the Company or this release, please refer to the Company's website at www.mbmiresources.com or contact John Wong, President and CEO by telephone at 905-886-3888 or by email at email@example.com.
Neither the 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. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
The foregoing information may contain forward-looking statements relating to the future performance of the Company. Forward-looking statements, specifically those concerning future performance, are subject to certain risks and uncertainties, and actual results may differ materially from the Company's plans and expectations. These plans, expectations, risks and uncertainties are detailed herein and from time to time in the filings made by the Company with the TSX Venture Exchange and securities regulators. The Company does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise.
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