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Chibougamau Independent Mines grants stock options to directors and geologists

The Quebec mining company offered as many as 675,000 shares of common stock at a price of $0.18 per share

Lake Chibougamau
The company operates a series of properties surrounding Lake Chibougamau in Quebec

Chibougamau Independent Mines Inc (CVE:CBG) (OTCMKTS:CMAUF) granted stock options to various directors and geologists, the company announced Tuesday.

The Quebec mining company offered the chance to purchase as many as 675,000 shares of common stock at an excise price of $0.18 per share, equal to its Monday close.

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The offer extends to certain directors and officers at the company, as well as geologists directly involved in exploration of Chibougamau’s properties. It expires on June 20, 2024.

The company operates a series of properties surrounding Lake Chibougamau in Quebec. It was spun out from its parent company Globex Mining (TSE:GMX), a Toronto-based exploration, royalty and property bank with more than 168 assets. 

Chibougamau's stock grew 2.8% to C$0.19 in Toronto and remained flat at US$0.14 on OTC Markets.

—Updated to include information about Globex Mining—

Contact Andrew Kessel at [email protected]

Follow him on Twitter @andrew_kessel

Quick facts: Chibougamau Independent Mines Inc

Price: 0.095 CAD

TSX-V:CBG
Market: TSX-V
Market Cap: $4.44 m
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