Morro Bay Announces Release of Second Quarter Financial Results
Calgary, Alberta (FSCwire) - Morro Bay Resources Ltd. (“Morro Bay” or the “Company”) (TSX-V: MRB) announces it has filed its Q2, 2015 consolidated condensed interim financial statements (“Financial Statements”) and the related management’s discussion and analysis of those financial statements (“MD&A”). Copies of the Financial Statements and MD&A can be viewed at www.sedar.com or on the Company’s website at www.morrobayresources.com.
Subsequent to quarter end, Morro Bay exercised its Option and elected to issue shares to Riverside Resources Inc. as indicated in the Press Release of May 5, 2015.
The Corporation has granted 1,000,000 incentive stock options to a consultant which are exercisable within three (3) years from the date of the grant at an exercise price of $0.05 per Share (the “Options”). These Options are governed by the Corporation’s Stock Option Plan and by the Option Agreement entered into by the Optionholder.
A copy of the Corporation’s Stock Option Plan can be found at www.sedar.com.
Morro Bay continues to proceed with the private placement announced previously on April 6, 2015. The units (consisting of one and one share purchase warrant) are being offered at a price of $0.05 cents per unit. The private placement may be closed in one or more tranches.
About Morro Bay
Morro Bay is a junior mineral exploration company based in Calgary, Alberta, Canada, focused on the exploration for precious metals in Mexico. Morro Bay's business strategy is to build shareholder value by rapidly advancing the Peñoles Project in Mexico through the resource delineation stage.
Further Information
For further information please contact:
John C. Zang
President and Chief Executive Officer
jzang@morrobayresources.com
403 680 9264
Patrick Piette
Investor Relations
ppiette@morrobayresources.com
416 526 9911
CHF Investor Relations
Robin Cook, Account Manager
robin@chfir.com
416 868 1079 x228
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Information in this news release may contain forward looking information. Statements containing forward looking information express, as at the date of this news release, the Company's plans, estimates, forecasts, projections, expectations, or beliefs as to future events or results and are believed to be reasonable based on information currently available to the company.
There can be no assurance that forward-looking statements will prove to be accurate. Actual results and future events could differ materially from those anticipated in such statements. Readers should not place undue reliance on forward-looking information.
The forward-looking information contained in this news release is as of the date hereof and Morro Bay does not undertake any obligation to update publicly or to revise any of the included forward looking statements contained herein, except as required by applicable law. The forward-looking statements contained herein are expressly qualified by this cautionary statement.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any state in the United States in which such offer, solicitation or sale would be unlawful. The securities referred to herein have not been and will not be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.
To view this press release as a PDF file, click onto the following link:
public://news_release_pdf/morrobay05282015.pdf
Source: Morro Bay Resources Ltd. (TSX Venture:MRB) http://www.morrobayresources.com/
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