Bitumen Capital Inc. Issues Directors Options
MONTREAL,
Oct. 18, 2012 /CNW Telbec/ - Bitumen
Capital Inc. (TSXV: BTM.H) today announced that the Board of
Directors has resolved to grant stock options by way of a
resolution dated October 17, 2012, to
purchase up to 1,300,000 common shares of the Corporation to the
directors of which one is also an executive officer.
The stock options have been issued pursuant to a
Board Meeting held October 17, 2012
and have an exercise price of $0.10
per share and are exercisable up to five (5) years from the date of
grant. Any common shares acquired pursuant to the exercise of
options prior to the completion of the qualifying transaction will
be deposited in and subject to escrow, the whole pursuant to the
policies of the TSX Venture Exchange.
This exercise price has been determined in
conformity with the stock option plan adopted on November 27, 2006 by the Directors of the
Corporation as well as minimum pricing for options as per the TSX
Venture Exchange.
About Bitumen Capital Inc.
Bitumen Capital is a Capital Pool Company listed
on the TSX Venture Exchange under the symbol BTM.H and its
financial statements are filed on the SEDAR web site at
www.sedar.com.
The principle business of the Company will be
the identification and evaluation of companies, business or assets
with a view to completing a Qualifying Transaction. As of the date
hereof, no Qualifying Transaction has yet been identified.
The TSX Venture Exchange does not accept
responsibility for the adequacy or accuracy of this
release.
SOURCE BITUMEN CAPITAL INC.