|By Marketwired .||
|June 13, 2014 06:53 PM EDT||
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 06/13/14 -- Spur Ventures Inc. ("Spur" or the "Company") (TSX VENTURE: SVU)(OTCBB: SPVEF) announces that the board of directors of the Company has approved the granting of 2,050,000 options pursuant to the Company Stock Option Plan to directors, officers and employees entitling them to purchase the common shares of the Company at a price in accordance with the pricing provisions of the Company's Stock Option Plan, being the average of the bid and ask prices of the Company on the TSX Venture Exchange during the three preceding trading days, of $0.32 per share until 5:00 p.m. (Vancouver time) June 13, 2019, with 12.5% vesting immediately and 12.5% each quarter over the next two (2) years, subject to regulatory approval.
These options represent the 2013 calendar year option allocation to directors, officers and employees which had been previously delayed due to the imposition of various blackout periods as the Company pursued a number of alternative corporate transactions. The Directors consider this to be the appropriate time to proceed with the 2013 stock option allocation as they believe that at this time there is no material undisclosed information in respect of the Company, the Transaction or any other potential corporate transactions.
On behalf of the Board of Directors
John Morgan, President and 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.
Spur Ventures Inc.
President and Chief Executive Officer
+1 604 689 5564