Focus Metals, Inc. (FCSMF: OTC Link) | Focus Amends Stock Option Plan and Grants Options

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.

 

Profile

 

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:

Gary Economo

President and Chief Executive Officer

613-691-1091 ext. 101

 

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.

The above news release has been provided by the above company via the OTC Disclosure and News Service. Issuers of news releases and not OTC Markets Group Inc. are solely responsible for the accuracy of such news releases.

Article source: http://www.otcmarkets.com/stock/FCSMF/news?id=40449

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