ONTEX GRANTS STOCK OPTIONS TO DIRECTORS, OFFICERS AND KEY EMPLOYEES
Toronto, Ontario - Wednesday, April 4, 2001, 11:13 AM EDT
Listing: TSE, CDNX: Symbol "ONT"
Issued Capital: 39,036,506 Common Shares
The Board of Directors of Ontex Resources Limited is pleased to
announce the grants of options ("Incentive Options") to the
following directors, officers and key employees:
Name of Optionee Number of Options Granted
---------------- -------------------------
Gary Conn 700,000
Salvatore Fuda 700,000
George Chilian 600,000
Peter Clute 300,000
Laurence Marsland 300,000
Rob Montemarano 300,000
Charles Harnick 300,000
Antonio Lopes 100,000
Manoj Pundit 750,000
Eric Owens 50,000
Armen Chilian 50,000
TOTAL 4,150,000
The grants of the Incentive Options were made pursuant to the
Corporation's Stock Option Plans, which were approved by
shareholders at the annual and special meeting held in 1998, 1999
and 2000. Each of the Incentive Options, except 550,000 of the
options granted to Manoj Pundit, entitle their holder to purchase
one common share of Ontex at $0.38 and expire March 31, 2003.
550,000 of the Incentive Options granted to Mr. Pundit entitle
him to purchase one common share of Ontex at $0.51 and expire
June 30, 2003 and were granted as part of his compensation
arrangements negotiated last year. The grants are subject to the
Corporation receiving all required regulatory approvals including
approval by The Toronto Stock Exchange and The Canadian Venture
Exchange and compliance with applicable securities laws, rules
and regulations.
For further information, please contact Gary Conn, Executive
Vice-President, in London (Tel. (519) 455-8127,
Fax. (519) 455-1846), by Email: info@ontex resources.com or,
visit our website at: www.ontexresources.com.
ONTEX RESOURCES LIMITED
[signed]
GARY CONN, EXECUTIVE V.P.
ON BEHALF OF THE BOARD OF DIRECTORS |
