Troymet Exploration Corp. grants 2.7 million Stock Options
TSXV : TYE www.TroyMet.com
Troymet Exploration Corp. grants 2.7 million Stock Options
January 11, 2010 - Troymet Exploration Corp. (the “Corporation”) (TYE – TSX-V) has granted 2.7 million options to directors, officers and consultants of the Corporation in accordance with the Corporation’s stock option plan. Out of these options, 1.0 million options were issued to consultants at an exercise price of $0.10 per share. These options expire two years from the date of grant and vest as to 25% of the options on the date of issuance and 25% on each of the 6, 12 and 18 month anniversaries of the date of grant (such that the options are fully vested 18 months from the date of issuance). The remaining 1.7 million options were issued fully vested to directors and officers of the Corporation at an exercise price of $0.12 per share with an expiry date of 5 years from the date of issuance.
Troymet has determined that exemptions from the various requirements of the TSX Venture Exchange Policy 5.9 and Multilateral Instrument 61-101 are available for the issuance of the options to the directors and officers of the Corporation (Formal Valuation - Issuer Not Listed on Specified Markets; Minority Approval - Fair Market Value Not More Than 25% of Market Capitalization).
For further information, contact:
Kieran Downes (250) 729-0453; [email protected] Tracy Hurley (250) 468-5557; [email protected]
Website: www.troymet.com
Neither the 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 of accuracy of this news release. This news release may contain certain forward-looking information. All statements included herein, other than statements of historical fact, is forward-looking information and such information involves various risks and uncertainties. There can be no assurance that such information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such information. A description of assumptions used to develop such forwardlooking information and a description of risk factors that may cause actual results to differ materially from forwardlooking information can be found in the Corporation's disclosure documents on the SEDAR website at www.sedar.com. The Corporation does not undertake to update any forward-looking information except in accordance with applicable securities laws.
Davis:6147222.1 1963 Comox Ave., Comox, BC V9M 3M4 Tel: (250) 7290453 Fax: (250) 7290463 E: [email protected]