Split proposal; APPROVED...Cdn Quantum shareholders approve 4:1 stock split
Ticker Symbol: C:CQM
Cdn Quantum shareholders approve 4:1 stock split
Canadian Quantum Energy Corp (C:CQM)
Shares Issued 6,145,444
Last Close 11/13/2009 $1.70
Tuesday November 17 2009 - News Release
Mr. Douglas Brett reports
CANADIAN QUANTUM ENERGY CORPORATION ANNOUNCES SHAREHOLDER APPROVAL OF THE RE-ELECTION OF BOARD, SHARE SPLIT, STOCK OPTION PLAN AND GRANT OF OPTIONS
Canadian Quantum Energy Corp. re-elected Douglas J. Brett, Michael Koenig, Eric M. Leslie and Neil Munro to the board of directors of the corporation at the annual general and special meeting of shareholders held on Nov. 16, 2009. The Corporation also wishes to announce that shareholder approval of the proposed forward split initially announced on October 19, 2009, was obtained to effect the proposed 4 new common shares for each old one common share held forward split at its AGM. The 4 for 1 forward split remains subject to approval of the TSX Venture Exchange. The shareholders also approved the amended stock option plan (the "Plan") under which the number of shares issuable upon exercise of all options thereunder shall not exceed 10% of the issued and outstanding common shares of the Corporation from time to time.
The Corporation further announces that, subject to regulatory approval, it has granted an aggregate of 75,000 options under the Plan to its directors and consultants as follows: 12,500 options were granted to each of the directors and a total of 25,000 options were granted to consultants. All of the options have an exercise price of $1.70 per share and will expire on November 16, 2014. The stock option grant is subject to regulatory approval. Canadian Quantum has determined that there are exemptions available from the various requirements of TSX Venture Policy 5.9 and Multilateral Instrument 61-101 for the issuance of these options (Formal Valuation - Issuer Not Listed on Specified Markets; Minority Approval - Fair Market Value Not More Than $2,500,000).
? 2009 Canjex Publishing Ltd.