VANCOUVER, Aug. 1, 2013 /CNW/ - Altair Gold Inc. (TSX-V:
AVX; the "Company" or "Altair") announces that, subject to
acceptance for filing by the TSX Venture Exchange (the "TSXV") and
subject to disinterested shareholder approval where required at the
Annual General Meeting of the Company held on September 5, 2013, an aggregate of 2,334,999
stock options, under its Stock Option Plan, which were previously
granted to certain directors, officers and consultants of the
Company, have been cancelled and re-granted at an exercise price of
$0.10 per share exercisable for a
period of five years. The cancelled stock options were
granted at exercise prices of $0.45
per share (305,000 options), $0.30
per share (50,000 options), $0.54 per
share (349,999 options), $0.275 per
share (1,430,000 options) and $0.22
per share (200,000 options). All of the re-granted options
are subject to acceptance for filing by the TSXV and 1,649,999 of
the options re-granted to insiders are also subject to
disinterested shareholder approval at the above-mentioned Annual
General Meeting. The options re-granted to directors,
officers and consultants not performing investor relations services
will vest immediately. The options re-granted to consultants
performing investor relations services (aggregate of 300,000
options) will vest over a period of 12 months with 25% vesting on
the date that is three months, six months, nine months and twelve
months after the date of grant. In addition, the Company has
granted, under its Stock Option Plan, a stock option to one of its
directors to purchase up to 250,000 common shares in the capital of
the Company exercisable for a period of five years at a price of
$0.10 per share, which option will
vest immediately. This new stock option is not subject to
acceptance for filing by the TSXV or disinterested shareholder
approval.
ALTAIR GOLD INC.
"Fayyaz Alimohamed"
Per:
Fayyaz Alimohamed
President & Chief Executive Officer
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.
SOURCE Altair Gold Inc.