Athabasca Announces Granting of Stock Options
October 6, 2010
Edmonton, Alberta - Athabasca Minerals Inc. ("Athabasca" or the "Company") announces that pursuant to the terms of its stock option plan, its Board of Directors has approved the granting of options to purchase an aggregate of 640,000 common shares at a price of $0.26 per share to certain of its directors, officers and employees. The options vests one-third on April 7, 2011, one-third on October 7, 2011 and one-third on April 7, 2012 and have a term of five years.
The Board of Directors has also approved the granting of options to purchase an aggregate of 250,000 common shares at a price of $0.26 and $0.40, respectively, to two consultants of the Corporation. The options granted to the consultants vest one-quarter on October 7, 2010, one-quarter on January 7, 2011, one-quarter on April 7, 2011, and one-quarter on July 7, 2011. The options granted with an exercise price of $0.26 per share have a term of two years and the options granted with an exercise price of $0.40 per share have a term of four years.
Athabasca is a resource company involved in the management, exploration and development of aggregate projects in Canada. These activities include contracts works, aggregate pit management, new aggregate development and acquisitions of sand and gravel operations. The Company also has industrial mineral land holdings in the vicinity of Fort McMurray and Peace River, Alberta. The Company's aim is to find and develop local sources of industrial minerals essential to the economic development of specific high growth regions.
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