New Delhi, India
To Shareholders,
Friends and Interested Persons,
For those of you who do not follow the news daily, on September 25 we announced
closing of a million dollar (Canadian) financing. On September 30 (copy
below) we announced the election of two new directors and a new
vice-president. We have also re-organized incentive stock options for
directors and key employees subject to shareholder and TSX Venture Exchange
approval.
India
is a sleeper. Advanced exploration and mine development in the
non-ferrous, non-fuel sector is little known because only four of the 11
companies with advanced projects trade on Western stock exchanges. Those
projects that are commercial-class developments include gold, copper, zinc,
lead, silver, platinum-group metals and diamonds and they are scattered in
seven state jurisdictions. There is a staking rush going on as those
companies and other first-movers are quietly applying for obvious undeveloped
mineral prospects and areas.
The recovery of the commodities markets and the growing realization Asia's economic power have set the stage for major
achievements in the near future. It helps us that India's current
GDP growth is 6 per cent and it is an importer of the metals we have at Askot.
Soon we will concentrate on drilling to expand the mineral resource and to
increase investor awareness of Pebble Creek and its future prospects.
Best regards to
all,
Andrew
PEBBLE CREEK ANNOUNCES APPOINTMENT OF NEW
DIRECTORS AND OFFICER, THE REPRICING OF OUTSTANDING STOCK OPTIONS, THE GRANT OF
NEW STOCK OPTIONS AND ADOPTION OF NEW STOCK OPTION PLAN
TSX-V:
PEB
FOR IMMEDIATE RELEASE
Vancouver,
British Columbia - September 30, 2009 - Pebble Creek Mining Ltd. (the
"Company" or "Pebble Creek") is pleased to make the
following announcements:
Appointment
of New Directors and Officer
The
Company is pleased to announce the appointment of Marco A. Becker and Herbert
M. Brugh to the Board of Directors.
Marco
A. Becker is CEO of
Prometheus Immobili?res S.?.r.l., a real estate development and consulting firm
in Luxembourg. In 1995, he founded and developed VEDA Consult S.A., in
Luxembourg, an advisory firm representing foreign companies in Europe. Mr.
Becker started his career in 1978 as a Eurobond trader with Banque G?n?rale du
Luxembourg S.A. before joining Hypobank International S.A., where he was in
charge of the bond markets and the new issuers. From 1985 to 1987, he
managed the bond portfolio of the Compagnie Mon?gasque de Banque in Monaco,
then joined Shearson Lehman Hutton in Monaco, as Vice-President,
International. From 1987 to 1992, Mr. Becker was registered as a broker
for stocks, options and bonds with the then New York Stock Exchange (NYSE
Amex), for commodities, futures and options with the Chicago Board of Trade
(CBOT) and for currencies, metals and options with the Chicago Mercantile
Exchange (CME). From 1992 to 1995, he was a portfolio manager at
Compagnie Financi?re Edmond de Rothschild in Monaco.
Herbert
M. Brugh earned a Bachelor of Arts from the University of Nebraska in 1961, with a major in
economics and law and a Doctor of Jurisprudence from that University in
1963. He is a member of the Nebraska State Bar Association and
admitted to practice before the Federal and State Courts there. From 1963
to 1983, he was a member of the firm of Barney & Carter in Lincoln,
Nebraska, with extensive experience in legislation, litigation, corporate and
business law. From 1983 through 1985, he was Senior Vice President of
Resources International, with extensive work in merger and acquisitions.
Since then, Mr. Brugh has been engaged in corporate and securities work,
participating in numerous early stage companies, in North America and Western
Europe. He is currently a director of Inspiration Mining Corporation, a
TSX-listed company.
With the
addition of Messrs. Becker and Brugh, the Board of Pebble Creek will now be
comprised of eight members.
The
Company is also pleased to announce the appointment of Michael Romanik
as Vice-President, Corporate Development. Mr. Romanik brings extensive
experience to Pebble Creek in the areas of finance, corporate strategy and
investor communications. He is presently the President and Chief
Executive Officer of Newcastle Minerals Ltd. (TSX-V: NCM), Chief Financial
Officer and a director of First Lithium Resources (TSX-V: MCI), President of
Verenex Capital Corp, a private investment company, and President of First
India Resources Inc, a private company engaged in identifying mineral projects
in India.
Repricing
of Outstanding Stock Options
The
Company also announces the repricing of all outstanding stock options. Subject
to the approval of the TSX Venture Exchange (the "TSX-V"),
outstanding stock options for the purchase of an aggregate of 2,495,000 common
shares of the Company having exercise prices of $0.60 and $0.24 per share,
respectively, with different expiry terms have all been repriced to the
exercise price of $0.12 per share. As required by the policies of the TSX-V,
all repriced options that are held by insiders of the Company will be subject
to disinterested shareholder approval at the Company's 2009 annual general
meeting of shareholders (the "Shareholders' Meeting"), which is
scheduled for October 30, 2009. If such approval is not obtained, none of
the outstanding stock options will be repriced. Also, none of the
repriced options may be exercised at the amended exercise price pending TSX-V
acceptance of the stock option repricing.
Grant
of New Stock Options
The
Company further announces the grant of new stock options to directors,
officers, employees and consultants of the Company to purchase an aggregate of
2,355,000 common shares of the Company at an exercise price of
$0.12 per share for a term of five years. These options shall vest
immediately, with the exception that options granted to consultants engaged to
provide investor relations on behalf of the Company shall vest in accordance
with the policies of the TSX-V. The grant of the stock options is subject
to any necessary approvals from the TSX-V.
Adoption
of New Stock Option Plan
The
Company also announces that subsequent to the grant of the aforementioned new
stock options, it has adopted a new stock option plan (the "New
Plan") to replace the previous plan. Similar to the previous plan,
the New Plan is a "rolling 10%" plan, however, the New Plan removes
certain restrictions that were contained in the previous plan and no longer
mandated by the policies of the TSX-V. The New Plan is subject to
confirmation and approval by the shareholders of the Company at the
Shareholders' Meeting and thereafter, shareholder approval must be obtained on
an annual basis pursuant to the policies of the TSX-V. If the New Plan is
approved by shareholders, all outstanding stock options granted under the
previous plan, which includes the new option grants described herein, will be
governed by the terms of the New Plan. The New Plan is also subject to
the approval of the TSX-V.
For further information, please contact:
Andrew Nevin, President & CEO
Telephone: 1 604
696 6101
Mike Romanik,
Vice-President, Corporate Development
Telephone:
1 204 724 0613
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.