Milner Announces Cancellation of Existing Stock Options and Grant of New Stock Options Under Existing Plan
04 February 2009 - 7:12AM
Marketwired
MILNER CONSOLIDATED SILVER MINES LTD. (TSX VENTURE: MCA) (Milner) -
announces that outstanding stock options totaling 743,850 common
shares have been cancelled effective February 3, 2009. The exercise
price of the cancelled options ranged from $0.25 to $0.335 per
common share and the expiry dates ranged from October 9, 2010 to
October 16, 2013.
Options to acquire a total of 743,850 common shares of Milner at
an exercise price of $0.09 per share expiring on February 2, 2014
have been granted to four directors of Milner and one director of
Milner's wholly-owned Mexican subsidiary. Options of 216,425 common
shares have been granted to a director and officer of the company
and 216,425 common shares have been granted to a director and
officer of Milner's wholly-owned Mexican subsidiary. Options
totaling 111,000 common shares have been granted to the three
remaining directors of the Company, with each director entitled to
37,000 common shares. The market price at close of previous day was
$0.09. The grant of this option is in accordance with the existing
stock option plan. The stock options are for a term of five years
and vest immediately.
The grant of the incentive stock options is subject to
regulatory approval.
Milner Consolidated Silver Mines Ltd. is a junior resource
company, quoted for trading on the TSX Venture Exchange under the
symbol MCA. There are currently 7,438,506 shares issued and
outstanding in Milner Consolidated Silver Mines Ltd.
On Behalf of the Board,
D.J. Bazinet, President
Shares Outstanding: 7,438,506
The TSX Venture Exchange does not accept responsibility for the
adequacy or accuracy of this release.
Contacts: Milner Consolidated Silver Mines Ltd. Deborah Bazinet
(705) 533-3430 (705) 533-1521 (FAX)
Milner Consolidated Silver (TSXV:MCA)
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