Fri Jul 4, 2008
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Located in the Pacific Ring of Fire
Diverse resource exploration in the Philippines.
Message: Fri Jul 4, 2008
| Fri Jul 4, 2008 Mindoro Issues Incentive Stock Options |
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| EDMONTON, Alberta: July 4, 2008 - Mindoro Resources Ltd. (TSXV: MIO; Frankfurt: WKN 906167) today announced that incentive stock options have been granted to directors, officers, advisory board members and employees of the Company and the Company's Philippine subsidiary, MRL Gold Phils., Inc., to purchase 2,395,000 common shares at an exercise price of $0.29 per share for a five year term. Options will vest over one year with one half of the options vesting in each six month period following the date of issue. The company typically grants incentive options on an annual basis with the last general grant to company personnel occurring on June 7, 2007.The grant of incentive stock options provides long term incentive to the Company's key personnel and further ensures that the interests of the Company's personnel are aligned with the interests of the Company's shareholders. Options have also been granted to Accent Marketing Limited and Argentuminvest GmbH to purchase 100,000 common shares each at an exercise price of $0.29 per share for a two year term with one quarter of the options vesting in each three month period following the date of issue. All grants are subject to regulatory approval. |
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Sep 05, 2008 06:17AM
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