CALGARY, Oct. 19, 2018 /CNW/ - PRIZE MINING CORPORATION ("Prize" or the "Corporation") (TSXV:PRZ) (OTCQB:PRZFF) (MQSP:GR:FRANKFURT) announced today that, subject to regulatory approval, it has granted a total of 4,525,000 options to purchase common shares of the Corporation (the "Options") to directors, officers, employees and consultants of Prize. The options have an exercise price of $0.20 per common share and an expiry date of October 18, 2023.  A total of 124,310,562 common shares of the Corporation are now issued and outstanding. 

Of the options granted above, 3,225,000 options were granted to directors and officers of Prize. Prize has determined that there are exemptions available from the various requirements of TSX Venture Policy 5.9 and Multilateral Instrument 61-101 for the issuance of these options (Formal Valuation - Issuer Not Listed on Specified Markets; Minority Approval - Fair Market Value Not More Than $2,500,000).

In addition, the Corporation has granted Mike McPhie, President and Chief Executive Office of the Corporation, an award consisting of 2,400,000 Restricted Share Units ("RSUs"), such grant of RSUs being approved by the shareholders of the Corporation at the shareholders meeting held on May 20, 2018. An initial grant of 400,000 RSUs vest immediately upon issuance and the remaining 2,000,000 RSUs vest upon the achievement of certain performance criteria.

About Prize Mining

Prize is a junior mining issuer listed on the TSX Venture Exchange. Prize is focused on the exploration and development of the high grade Manto Negro Copper Property in Mexico and the Kena Gold Property in BC. Find out more at: www.prizemining.com

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SOURCE Prize Mining Corporation