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Afri-Can Adopts a New Stock Option Plan and Grant Options 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
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
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