Remstar Resources Ltd. has granted stock options to directors, officers and consultants of the company to purchase 245,000 common shares of the company exercisable at a price of five cents per share, expiring 10 years from the date of grant.
The company also announces that it has amended the terms of previously granted stock options to purchase an aggregate of 3.78 million common shares at a price of 10 cents per share, having expiry dates between 2016 and 2020. The exercise price has been reduced to five cents per share. Insiders hold 2,645,000 of the options, and disinterested shareholder approval for the repricing of these options will be sought at the company's next annual general meeting on April 2, 2014.
The company has also amended the term of 1,375,000 of the 3.78 million options to extend the expiry date for an additional five years from April 26, 2017, to April 26, 2022.
The amendments to these options are subject to acceptance for filing by the TSX Venture Exchange.