Toronto, Ontario--(Newsfile Corp. - November 19, 2021) - Firestone Ventures (TSXV: FV.H) (FSE: F5V) ("Firestone" or the "Company"). On July 28, 2021, the Company announced the proposed sale of Fuegoestrella, Sociedad Anonima ("FSA"), a wholly owned subsidiary of the Company and the owner of the Torlon Hill Project, for USD$500,000 in cash. The Corporation believes that the interests of Shareholders will be better served by acquiring new exploration properties and the cash consideration represents a sum which will allow the Corporation to carry on operations while it seeks out new key assets or business combination opportunities. Management expects to close the sale transaction prior to November 30, 2021.
The Company further announces that the Board of Directors of Firestone have granted 1,950,000 stock options ("Options") to certain officers, directors and consultants of the Company, exercisable for an aggregate of 1,950,000 common shares of the Company ("Common Shares"), at an exercise price of $0.13 per Common Share, for a period of five years from the date of the grant, being November 16, 2021. The Options shall vest: one third on the date of the grant, one third on the first anniversary of the date of the grant, and the remaining one third shall vest on the second anniversary of the date of the grant.
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Firestone is a junior exploration mining company engaged in the identification, evaluation, acquisition and exploration of mineral property interests, with a focus on zinc, lead, silver and copper. Management continues to review potential new projects as industry conditions are creating opportunities for companies such as Firestone, to expand their asset base.
For further information, please contact:
President and CEO
Firestone Ventures Inc.
Firestone Ventures Inc.
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This news release may contain forward-looking information that involves substantial known and unknown risks and uncertainties, most of which are beyond the control of Firestone. Forward-looking statements include estimates and statements that describe Firestone's future plans, objectives or goals, including words to the effect that Firestone or its management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as "believes", "anticipates", "expects", "estimates", "may", "could", "would", "will", or "plan". Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to Firestone, Firestone provides no assurance that actual results will meet management's expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to, Firestone's company's objectives, goals or future plans. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, those risks set out in Firestone's public documents filed on SEDAR. Although Firestone believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Firestone disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.
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