|By Marketwired .||
|January 17, 2014 05:45 PM EST||
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 01/17/14 -- Bralorne Gold Mines Ltd. (TSX VENTURE:BPM)(OTCQX:BPMSF)(BERLIN:GV7)(FRANKFURT:GV7) (WKN A0B75M) (the "Company") announces that further to its adjourned Annual General Meeting held on October 9, 2013, and after further review of the voting results, its 10% rolling stock option plan was not approved by the disinterested shareholders. As a result, the Board of Directors will need to immediately implement a fixed stock option plan for up to 2,849,000 shares, including previous stock option grants under the old plan.
In addition, the resolution to re-price the existing stock options granted to insiders was not made in accordance with the policies of the TSXV, so in result the re-pricing of the insiders' stock option was not acceptable to the TSXV. The Company must therefore return $36,600 being the proceeds of exercise for 122,000 shares to three optionees, and 122,000 shares issued to them will be returned for cancellation.
About Bralorne Gold Mines Ltd.
The Company is a Canadian junior mining and exploration company, whose corporate strategy is to build shareholder value through the exploration and development of economically viable mineral properties. The Company's current project is a 100% interest in the Bralorne Gold Mine, BC, currently in mining operation.
For more information, please feel free to visit our website at: www.bralorne.com
ON BEHALF OF THE BOARD
William Kocken, Chief Executive Officer
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. This release contains statements that are forward-looking statements and are subject to various risks and uncertainties concerning the specific factors disclosed under the heading "Risk Factors" and elsewhere in the Company's periodic filings with Canadian securities regulators. Such information contained herein represents management's best judgment as of the date hereof based on information currently available. The Company does not assume the obligation to update any forward-looking statement.