Focus Amends Stock Option Plan and Grants Options
Dec 23, 2011
OTC Disclosure News Service
Ottawa, ONT, Canada –
OTTAWA, ONTARIO – Focus Metals Inc. (“Focus Metals” or “Corporation”) announces today that it has approved an amendment to its stock option plan (the “Plan”) in order to increase the number of common shares reserved for issuance under the Plan from 6,143,434 to 8,364,117, being 10% of the Corporation’s issued and outstanding common shares. The increase is subject to regulatory approval.
Furthermore, the Corporation announces that it has granted a total of 1,900,000 options at an exercise price of $0.71 until December 22, 2016, of which an amount of 200,000 has been granted to a consultant of the Corporation and 1,700,000 has been granted to the following directors and officers of the Corporation: Gary Economo (1,000,000), Jeff York (500,000), Francis Pomerleau (100,000) and Judith Mazvihwa (100,000). The options are subject to regulatory approval and may not be exercised until such approval has been received by the Corporation.
Focus Metals Inc. is an emerging mid-tier junior mining exploration company with excellent discovery stage base metals and industrial minerals opportunities in Quebec. A determined management team with extensive mining business experience lead the Corporation.
For more information, please contact:
President and Chief Executive Officer
613-691-1091 ext. 101
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