VANCOUVER, British Columbia, Aug. 02, 2017 (GLOBE NEWSWIRE) -- US Cobalt Inc. (the "Company") (TSXV:USCO) (Frankfurt:26X) (OTCQB:SCTFF) announces that, pursuant to its stock option plan, it has granted stock options to acquire up to an aggregate of 950,000 common shares to certain directors, officers, and consultants of the Company. Each of the stock options is exercisable for a five year term expiring on August 2, 2022 and exercisable until that time at a price of $0.57 per common share. On August 1, 2017, the last day that the common shares traded prior to the granting of the stock options, the closing price of the common shares on the TSX Venture Exchange was $0.57 per share. The stock options vest in equal quarterly tranches such that the stock options are fully vested upon the first anniversary of grant. The stock options, and any common shares issued upon exercise of the stock options, are subject to a four month hold period expiring on December 3, 2017.
Neither the 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.