Patric Barry announces the exercise of prior Incentive Share Options, and the issuance of new Incentive Share Options in Tiger International Resources (TGR.V).
Patric Barry has exercised his previously issued 487,340 Share Options, resulting in the issued shares of the company totalling 10,234,244 common shares.
Under the terms of the Proposed Plan, the term of the options will be ten years, and the option price, based on the average price of the past ten trading days, and as required by Exchange Policy and Procedures, will be C$0.11.5 , less a 20% discount if the beneficiary consents to a four month hold from the date of issuance. Under the proposed Plan, the maximum number of options that can be issued is limited to 10% of the issued capital of the company. The number of options that can be granted under this plan is 10% of the issued capital, or 1,023,424 share options. No one person may receive options over more than 5% of the issued capital of the company.
The directors and officers of the Company will receive:
Patric Barry, President and CEO 356,424 options
Don Benard, Non-Executive Director 200,000 options
Joe Breslawski, CFO and Director 337,000 options
Coleen Barry, Corporate Secretary 100,000 options
William Fallick, non-executive director 50,000 options
Total of options issued is 1,023,424
ABOUT TIGER INTERNATIONAL
Tiger International is a Canadian resource exploration and development company and is the holder of The Itogon Gold and Silver project, located in an established gold mining district known as the Baguio Gold Belt on the island of Luzon in the north of the Philippines, and benefits from an extensive historical dataset. The Itogon Project is 100% licensed by Tiger from the Philippine government, and is subject to an Agreement with ECR Minerals PLC of London, UK whereby ECR may earn up to a 50% interest by exploring the property and obtaining a mining license.
FOR FURTHER INFORMATION PLEASE CONTACT:
Patric Barry, President, Tiger International Resources, at (949) 362.1600 or by email to
26981@att.net