Alderon Iron Ore Corp (TSXV:ADV)
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TORONTO, Dec. 29 /CNW/ --
/NOT FOR DISSEMINATION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION TO
THE UNITED STATES/
(TSX.V: ADV) (OTCQX: ALDFF)
TORONTO, Dec. 29 /CNW/ - Alderon Resource Corp. (TSX.V: ADV) (OTCQX: ALDFF) ("Alderon") wishes to retract its press release dated December 22, 2010
announcing the grant of incentive stock options and such stock options
will not be issued. Alderon also wishes to announce that effective
today, Alderon has approved the grant of incentive stock options to
purchase a total of 1,175,000 common shares of Alderon at an exercise
price of $3.00 per share to certain executive officers, directors,
employees and consultants of Alderon. The options vest in equal
quarterly instalments over a period of 24 months and have a term of
five years.
About Alderon Resource Corp.
Alderon is a leading iron ore exploration and development company in
Canada. The Kami Project is located within an existing iron ore
district and is surrounded by producing iron ore mines. The Alderon
team is comprised of skilled professionals with significant iron ore
expertise to advance Kami towards production.
For more information on Alderon, please visit our website at www.alderonmining.com
ALDERON RESOURCE CORP.
On behalf of the Board
"Mark J Morabito"
President & CEO
Information set forth in this news release may involve forward-looking
statements under applicable securities laws. Forward-looking statements
are statements that relate to future, not past, events. In this
context, forward-looking statements often address expected future
business and financial performance, and often contain words such as
"anticipate", "believe", "plan", "estimate", "expect", and "intend",
statements that an action or event "may", "might", "could", "should",
or "will" be taken or occur, or other similar expressions. By their
nature, forward-looking statements involve known and unknown risks,
uncertainties and other factors which may cause our actual results,
performance or achievements, or other future events, to be materially
different from any future results, performance or achievements
expressed or implied by such forward-looking statements. Such factors
include, among others, the following risks: the risks associated with
outstanding litigation, if any; risks associated with project
development; the need for additional financing; operational risks
associated with mining and mineral processing; fluctuations in
commodity prices; title matters; environmental liability claims and
insurance; reliance on key personnel; the potential for conflicts of
interest among certain officers, directors or promoters with certain
other projects; the absence of dividends; competition; dilution; the
volatility of our common share price and volume; and tax consequences
to U.S. shareholders. Forward-looking statements are made based on
management's beliefs, estimates and opinions on the date that
statements are made and the Company undertakes no obligation to update
forward-looking statements if these beliefs, estimates and opinions or
other circumstances should change, except as required by applicable
law. Investors are cautioned against attributing undue certainty to
forward-looking statements.
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.
To view this news release in HTML formatting, please use the following URL: http://www.newswire.ca/en/releases/archive/December2010/29/c8060.html
table border="0" valign="top"trtd align="left" valign="top"bVancouver Office /bbr/ T: 604-681-8030 br/ F: 604-681-8039 br/ E: a href="mailto:info@alderonmining.com"info@alderonmining.com/abr/ a href="http://www.alderonmining.com"www.alderonmining.com/a/td td align="left" valign="top"bToronto Office/bbr/ T: 416-800-1058br/ F: 416-861-5887br//td/tr/table