Press ReleaseSource: Afri-Can Marine Minerals Corporation

Afri-Can Adopts a New Stock Option Plan and Grant Options
Friday April 25, 2008 3:33 pm ET

MONTREAL, QUEBEC--(MARKET WIRE)--Apr 25, 2008 -- Afri-Can Marine Minerals Corporation ("Afri-Can") (CDNX:AFA.V - News)(Frankfurt:AJF.F - News) announces that its Board of Directors has approved a new stock option plan (the "2008 Plan"). The Corporation maintains currently four stock option plans (the "1997, 1998, 1999 and 2007 plans"). The Board approved the amalgamation of the 1997, 1998, 1999 and 2007 plans and the transfer of the 7,919,492 unexercised options under those plans to the 2008 Plan. The maximum number of common shares which may be issued under the 2008 Plan, including the preceding options, shall be fourteen million common shares, being equivalent to 9.5% of the issued and outstanding common shares of the Corporation.

Furthermore, the Board of Directors has granted options to purchase one million three hundred and sixty thousand common shares at 15 cents per share to four Directors of the Corporation. These options are exercisable until March 16, 2012.

The new plan and option grant is subject to regulatory approval.

Afri-Can is a Canadian company, actively involved in the acquisition, exploration and development of major mineral properties in Namibia. Afri-Can's creative and scientific approach targets large marine diamond deposits in unexplored prospective territories.

Shares outstanding: 146,367,644



The TSX Venture Exchange (TSX) does not accept responsibility for the adequacy or accuracy of this release.


Contact:
     Contacts:
     Afri-Can Marine Minerals Corporation
     Pierre Leveille
     President & CEO
     514-846-2133
     514-846-1435 (FAX)
      
     Afri-Can Marine Minerals Corporation
     Bernard J. Tourillon
     Executive V.P. and CFO
     514-846-2133
     514-846-1435 (FAX)
     info@afri-can.com
     http://www.afri-can.com
      

Source: Afri-Can Marine Minerals Corporation


Mail to Friend Email Story
Alerts Set News Alert
Printer
Version  Print Story 


Copyright © 2009 Yahoo! Inc. All rights reserved. Privacy Policy - Terms of Service
Copyright © 2009 Marketwire. All rights reserved. All the news releases provided by Marketwire are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.