Bridge Resources Corp. has approved the granting of options to acquire 2,860,000 common shares of the Corporation to various directors, officers, employees and consultants. Of this amount 2,150,000 of the stock options were issued to directors and officers of the Corporation and 50,000 of the stock options were issued to DSK Consulting Ltd. which firm provides investor relations services for the Corporation. The options have an exercise price of $0.30 per Common Share and expire on December 22, 2013.
The Corporation has determined that exemptions from the various requirements of TSX Venture Exchange Policy 5.9 are available for the granting of the options. The options to DSK Consulting Ltd. vest in accordance with TSX Venture Exchange guidelines and will expire 30 days after the expiration of the contract for investor relations services.
Bridge now has a total of 131,648,042 Common Shares outstanding, warrants to acquire 69,726,706 Common Shares at an average price of approximately $1.05 per Common Share and options to acquire 8,350,500 Common Shares outstanding at an average price of approximately $0.86 per Common Share. The Corporation has in place a 10% rolling stock option plan and is therefore eligible to grant a total of 13,164,804 options leaving a total of 4,814,304 options unallocated under the plan.