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Gold/Mining/Energy : Exall Resources/Glimmer Resources
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To: winzer5 who wrote (1258)2/27/2004 8:57:07 AM
From: winzer5  Read Replies (1) of 1319
 
And Here Come the Options.

Baffinland grants options to acquire 1.1 million shares

2004-02-26 11:09 ET - Options Proposed

Mr. Michael Zurowski reports

BAFFINLAND IRON MINES CORPORATION GRANTS INCENTIVE STOCK OPTIONS

Baffinland Iron Mines has granted stock options to officers and directors of the company to purchase up to 1.1 million common shares in the capital of the company at an exercise price of $1.15 per common share, being the closing price of the common shares on Feb. 25, 2004, vesting over 18 months and expiring on Feb. 26, 2009.

The current number of issued and outstanding common shares is approximately 18,360,987. The options were granted pursuant to the company's incentive stock option plan, under which a maximum of 10 per cent of the issued and outstanding common shares are reserved for issuance.

Following the grant of such options, a further 736,099 common shares will be available for issuance under the plan.

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