Key points
- PaRadox Public Relations will receive a monthly fee of $5,000 for a minimum of six months to increase Afri-Can’s visibility in Canada’s financial community.
- PaRadox will be granted 350,000 options exercisable at 12 cents per share at any time prior to Jan. 21, 2007.
- The board of directors granted options to four directors to purchase two million treasury shares under the company’s stock option incentive plan.
- Of those options, 1,640,746 are exercisable at 12 cents until March 10, 2009, and 359,254 are exercisable at 12 cents until March 24, 2008, with the shares closing at 11.5 cents the day before the grant.
Afri-Can Marine Minerals Corp. has retained PaRadox Public Relations to increase Afri-Can’s visibility in the financial community in Canada. PaRadox will receive a monthly fee of $5,000 for a minimum of six months, and will be granted 350,000 options at an exercise price of 12 cents per share to be exercised at any time prior to Jan. 21, 2007.
Furthermore, pursuant to a report from the remuneration committee, the board of directors of Afri-Can has granted options to four directors to purchase two million treasury shares under the provisions of the company’s stock option incentive plan. Of the two million options being granted, 1,640,746 may be exercised at a price of 12 cents at any time prior to March 10, 2009, and 359,254 may be exercised at a price of 12 cents at any time prior to March 24, 2008. The closing price of Afri-Can’s shares on the day preceding the grant was 11.5 cents.
