Commerce Resources grants, reprices options at 15 cents
2013-02-08 18:56 ET - News Release
Mr. David Hodge reports
OPTION GRANT AND REPRICING
Commerce Resources Corp. has granted incentive stock options to buy 4.3 million shares. Subject to the approval of the TSX Venture Exchange, each stock option is exercisable into one common share of the company at a price of 15 cents per share for a period of five years. Of the options granted, options for 3.45 million shares are issuable to directors and officers of the company.
The company also announces the repricing of incentive stock options to buy 1,985,000 shares issued to consultants of the company, to reflect current market conditions and subject to the approval of the exchange. The options were originally granted in 2009, 2010 and 2011 at prices ranging from 26 cents to 81 cents. The new exercise price for these options will be 15 cents per share.
We seek Safe Harbor.