Morro Bay Capital Ltd. Announces Stock Option Grants
10.04.2013 | FSCwire
NOT FOR DISSEMINATION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATESCalgary, Alberta CANADA, April 10, 2013 /FSC/ - Morro Bay Capital Ltd. (MRW.P - TSX Venture), ("Morro Bay" or the "Corporation") announces that upon closing of the IPO, and as disclosed in the Amended and Restated Prospectus dated March 5, 2013, the Corporation granted 1,000,000 incentive stock options to its directors and officers which are exercisable within five (5) years from the date of the grant at an exercise price of $0.10 per Share (the "Options"). The Options granted are as follows:
Name of Date of Number of Exercise Expiry Date
Optionee Grant Optioned Price
Shares
---------------------------------------------------------------
John Zang March 22, 2013 166,666 $0.10 March 22, 2018
---------------------------------------------------------------
Ken Younger March 22, 2013 166,666 $0.10 March 22, 2018
---------------------------------------------------------------
Keith Erickson March 22, 2013 166,667 $0.10 March 22, 2018
---------------------------------------------------------------
Matthew Zubot March 22, 2013 166,667 $0.10 March 22, 2018
---------------------------------------------------------------
Denny Chow March 22, 2013 166,667 $0.10 March 22, 2018
---------------------------------------------------------------
Stacy Bilodeau March 22, 2013 166,667 $0.10 March 22, 2018
---------------------------------------------------------------
Total 1,000,000
These Options are governed by the Corporation's Stock Option Plan and by the Option Agreement entered into by each Optionholder. In addition, in accordance with the TSX Venture Exchange policies no Options granted may be exercised before the completion of a Qualifying Transaction unless the Optionee agrees in writing to deposit the shares acquired into escrow until the issuance of the Final Exchange Bulletin.
A copy of the Corporation's Stock Option Plan can be found at www.sedar.com.
This news release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any state in the United States in which such offer, solicitation or sale would be unlawful. The securities referred to herein have not been and will not be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.
ABOUT MORRO BAY CAPITAL LTD.
The Corporation is a capital pool company ("CPC") that has not commenced commercial operations and has no assets other than cash. Except as specifically contemplated in the CPC policy, until the completion of the qualifying transaction, the Corporation will not carry on business, other than the identification and evaluation of companies, business or assets with a view to completing a proposed qualifying transaction.
For further information, please contact:
Mr. John Zang, Director of:
Morro Bay Capital Ltd.
2248 - 9th Avenue SE
Calgary, Alberta T2G 5P7
Telephone: (403) 680 9264
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.