|By Marketwired .||
|August 20, 2013 06:00 PM EDT||
TORONTO, ONTARIO -- (Marketwired) -- 08/20/13 -- Macusani Yellowcake Inc. (TSX VENTURE:YEL)(FRANKFURT:QG1) ("Macusani") announced today that it has granted stock options under its stock option plan to acquire 500,000 common shares to its President and Chief Executive Officer, Dr. Laurence Stefan. Each option is exercisable for a five year period to acquire one common share at a price of $0.065 per share. The options granted vest as to one-third each on the 6, 12 and 18 month anniversaries of the date of grant and are being granted in accordance with the terms of the agreement under which Dr. Stefan's services are provided to Macusani. The option grant is subject to regulatory approval and shareholder ratification of an amendment to Macusani's stock option plan to reduce the minimum exercise price of options granted thereunder from $0.10 to $0.05 per share, consistent with recent amendments to the minimum pricing rules of the TSX Venture Exchange. In the event that shareholder ratification is not received, the stock options granted would be exercisable at a price of $0.10 per share.
About Macusani Yellowcake
Macusani Yellowcake Inc. is a Canadian uranium exploration and development company focussed on the exploration of its properties on the Macusani Plateau in southeastern Peru. The Company owns a 99.5% interest in concessions which cover over 90,000 hectares (900 km2) and are situated near significant infrastructure. Macusani Yellowcake is listed on the TSX Venture Exchange under the symbol 'YEL' and the Frankfurt Exchange under the symbol 'QG1'. The Company has 159,473,613 shares outstanding. For more information please visit www.macyel.com.
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.