QUEBEC CITY, QUEBEC--(Marketwired - Sep 4, 2013) - MONARQUES RESOURCES INC. (« Monarques » or the « Corporation») (TSX VENTURE:MQR)(MR7.F) announced today that a total of 850,000 options granted shares to its directors, officers and a consultant. Each stock option entitles the holder to purchase one common share of the Corporation at a price of $ 0.15 per common share for a period of five years from the grant date. Of this number, 650,000 stock options vest immediately while 200,000 options to purchase shares will vest gradually over a period of 18 months, with a quarter vest immediately and fourth all of the following semesters. Options to purchase shares and common shares that may be subscribed upon the exercise thereof will be subject to a hold period of four months on resale which begins from the date of grant. These stock options are governed by the Stock Option Plan of the Company, as currently in force.
Monarques Resources Inc. (MQR) is a junior gold exploration company dedicated to excellence and committed to a program of socially- and environmentally-responsible mineral project development. The Corporation is currently focusing its efforts on the acquisition of gold projects in the Val-d'Or area, where it has 60 km² of gold property holdings. Monarques is also developing other properties covering nearly 550 km² in the James Bay area of Quebec, where it holds a 100% interest in the Nisk-1 deposit, a nickel project with an NI 43-101.
The forward-looking statements contained in this press release involve known and unknown risks, uncertainties and other factors that may cause Monarques' actual results, performance and achievements to be materially different from the results, performance or achievements expressed or implied therein. Neither TSX Venture Exchange Inc. nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange Inc.) accepts responsibility for the adequacy or accuracy of this press release.