CALGARY, ALBERTA, December 3, 2019 – CMX Gold & Silver Corp. (CSE:CXC; OTC:CXXMF) (“CMX” or the “Company”) announces the grant of options to officers and directors to replace options that expired September 30, 2019. A total of 2,700,000 options were granted for the purchase of common shares of CMX at a price of $0.10 per share. The options were granted under the Company’s stock option plan and vest immediately. The options have a one-year term and expire December 3, 2020, or earlier under certain circumstances.
Further to the news release dated August 1, 2019 announcing the letter of intent (the “LOI”) dated June 28, 2019 with Interfield Software Solutions (“Interfield”), which sets out the proposed terms of a transaction whereby CMX will acquire all of the outstanding shares of Interfield in exchange for shares of the Company (the “Acquisition”), CMX and Interfield have agreed to extend each of the Closing Date and the Exclusivity Date referenced in the LOI to January 31, 2020. The Acquisition will constitute a reverse takeover of the Company under the policies of the Canadian Securities Exchange (the “CSE”).
The CSE has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.
About CMX Gold & Silver Corp. (CSE:CXC)
CMX Gold and Silver Corp. is a junior mining company engaged in the acquisition, exploration and development of gold/silver and base metals properties. CMX’s major asset is the 100%-owned Clayton Silver Property located in the mining-friendly State of Idaho, U.S.A. The property comprises approximately 276 ha (684 acres) in Custer County in south-central Idaho, including the former Clayton silver-lead-zinc mine, which has 6,000 meters of underground workings and development on eight levels.