HLM Issues Common Shares on Exercise of Stock Options
Sudbury, Ontario –June 9, 2016 – Houston Lake Mining Inc. (TSX.V: HLM), is a mining exploration company which is actively exploring for rare metals lithium, tantalum, rubidium and cesium by currently advancing its 100% owned PAK Lithium Project in northwestern Ontario, Canada.
HLM is pleased to announce that all of the 1,400,000 stock options previously granted in 2011 at $0.14 per common share have been exercised for aggregate proceeds of $196,000. As a result of the exercise, the Directors and Officers (including related parties) of the company now represent over 30% ownership.
“I am pleased to announce the exercise of the options as it shows the confidence of management. The 30% ownership underscores the complete alignment of HLM’s management and directors with its shareholders as the company works towards the completion of a pre-feasibility study which is targeted for completion by the end of March 2017.,” commented Trevor R. Walker, President of HLM.