Interessant was gestern durch die Ticker ging. Die Geschäftsführerin von Freegold Ventures ist nun auch im direktorium von Western Standard. Da scheint ja nun doch etwas in Richtung Fusion zu laufen.
May 05, 2010
Corporate Update
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Vancouver, BC, Canada, - May 5, 2010 - Western Standard Metals Ltd. (TSX-V: WSM) (the "Company" or "Western Standard") wishes to announce that Ms. Kristina Walcott has been appointed to the Board of Directors. Ms. Walcott has worked in the mining and exploration industry for over twenty years, having served in an executive capacity with Freegold Ventures Limited ("Freegold") as VP Business Development and is now currently President and CEO of Freegold.
Mr. Wayne Melvin has resigned from the Board. The Board thanks Mr. Melvin for his 15 years of service to the Company.
Additionally, the Company has approved a new Stock Option Plan (the "Plan"). The new Plan will reserve up to 10% of the issued shares from time to time, as a "rolling stock option plan" for insiders, employees and other service providers to Western Standard.
In addition, the new Plan will limit the number of stock options, which may be granted to any one individual to not more than 5% of the total issued shares of the Company in any 12 month period, and not more than 10% of the total issued shares to all insiders (at any time or granted over any 12 month period). The number of options granted to any one consultant, or a person employed to provide investor relations activities, in any 12 month period must not exceed 2% of the total issued shares of the Company. Any stock options granted under the new Plan will not be subject to any vesting schedule, unless granted to a person providing investor relations services, in which case, the stock option will vest over 12 months.
The Company has granted incentive stock options to eligible directors, officers, employees and consultants to purchase up to 3,600,000 common shares of the Company. The options have a term of five years and can be exercised at a price of $0.25 per share. The foregoing Plan is subject to the approval of the shareholders of Western Standard and the TSX Venture Exchange.
About Western Standard Metals Ltd.
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