Grant of Stock Options
October 14, 2015 TSX-V: REZ
Redzone Resources Ltd. (“Redzone” or the “Company”) reports that it has approved a grant of 362,000 stock options to certain directors and officers of the Company. The options have a strike price of $0.10 and a term of 5 years from the date of grant. Prior to this grant the Company approved the expiry, effective August 1, 2015, of options to acquire 45,000 (post-consolidation) shares, which had been granted to certain former consultants to the Company and the relinquishment and cancellation, effective August 1, 2015 and October 13, 2015, of options to acquire an aggregate of 338,000 (post-consolidation) shares previously held by certain directors and officers of the Company including options to acquire 210,000 (post-consolidation) shares that were held by the Company’s Chief Executive Officer outside of the terms of the Company’s stock option plan. In accordance with the policies of the TSX Venture Exchange, options that have been relinquished and cancelled will not be available to be granted to the Company’s officers and directors for a period of one year from the date they were relinquished.
Michael Murphy, the Company’s President and Chief Executive Officer comment, “Despite the difficult market conditions and Redzone’s budgetary constraints, we are continuing to actively pursue projects which we believe have the potential to increase value for the benefit of all of our stakeholders.”
About Redzone Resources Ltd.
Redzone is a mineral exploration company focused on the acquisition and exploration of properties with prospects for hosting gold and base metal deposits. Redzone is listed on the TSX Venture Exchange (REZ) and more information can be found at www.redzoneresources.ca.
The TSX Venture Exchange does not accept any responsibility for the adequacy or accuracy of this release. For further information, please contact:
Redzone Resources Ltd.
Michael Murphy
President and Chief Executive Officer T: 604.681.8347 E: [email protected]
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