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.
