Equitorial Exploration Corp. (TSX-V:EXX, Frankfurt: EE1, OTCQB: EQTXF) (“Equitorial” or “Company”) announces that effective April 1, 2018 and May 1, 2018, the Company cancelled a total of 1,675,000 incentive stock options (“ Options ”) granted under the Company’s stock option plan (the “ Option Plan ”) to certain Consultants of the Company (a total of 675,000 Options cancelled effective April 1, 2018 and a total of 1,000,000 Options cancelled effective May 1, 2018). The April 1, 2018 cancelled Options were voluntarily surrendered by the holders thereof for no consideration. The May 1, 2018 cancelled Options were negotiated with the Consultants at a lower number of Options. The cancelled Options were granted from May 24, 2013 to November 13, 2017, and were exercisable at prices ranging from $0.10 to $0.275 for a period of five years from the date of grant.
The Option Plan allows the board of directors to issue the equivalent of up to 10% of the issued and outstanding share capital of the Company on a rolling basis.
Ab ou t E qu it o ri a l Ex p l o r a t io n C o rp
Equitorial is aggressively devel o ping four 100% -owned, high-p otential, lithium projects in N orth America. The Little Nahanni Pe g mati t e Group (LNPG) is a 4 3 -101 compliant, hard rock, lithium property in the NWT. The Cat Lake Lithium Property in Manit o ba, Canada is directly adjacent to the Cat Lake Mineral Pr oject, a highly prospective Lithium property. The Tule and Gerlach Lithium Brine Pr ojects are located in lithiu m -rich Utah and Nevada within easy reach of the Tesla Gigafacto ry #1. All f o ur projects have demo nstrated highly enc o uraging grades.
On b eha l f o f t h e B o ard o f Dire c t o rs
EQUITORI A L E X P LOR A TION CO R P.
Jack Bal, CEO and Director
For further information, please contact Jack Bal at 604-306-5285
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