Family Memorials Inc.
TSX VENTURE : FAM

Family Memorials Inc.

September 11, 2009 15:53 ET

Family Memorials Inc. Announces Proposed Amendments to Stock Options

THUNDER BAY, ONTARIO--(Marketwire - Sept. 11, 2009) - Family Memorials Inc. (TSX VENTURE:FAM) (the "Corporation") announces that it proposes to amend the exercise price of options to purchase a total of 975,000 Common Shares from $0.25 to $0.10 per share, for options previously granted to its directors. The Corporation also proposes to change the expiry dates of the afore-mentioned options from September 15, 2010 to September 10, 2014. In addition, the Corporation proposes to amend the exercise price of an option, previously granted to an officer of the Corporation, to purchase 75,000 Common Shares from $0.23 to $0.10 per share and to amend the expiry date for such option from June 18, 2013 to September 10, 2014. The foregoing proposed amendments require shareholder approval, which approval will be sought at the next annual and special meeting of shareholders of the Corporation. The Corporation has also amended options to purchase an aggregate of 400,000 Common Shares held by employees and a consultant of the Corporation, by amending the option prices from $0.25 to $0.10 per share and from $0.30 to $0.10 per share, as applicable, and by amending the expiry dates from September 15, 2010, December 18, 2011 and January 8, 2012 to September 10, 2014, as applicable.

The Corporation further announces that it has granted to a director of the Corporation an option to purchase 506,396 Common Shares and to employees of the Corporation options to purchase an aggregate of 150,000 Common Shares, all such options having an exercise price of $0.10 per share, with an expiry date of September 10, 2014.

About Family Memorials
Family Memorials is in the business of consolidating retail businesses selling granite monuments for placement on individual cemetery lots. Family Memorials has seven Canadian sales outlets and carries on business through its wholly-owned subsidiaries, Grajack Industries Ltd. in Belleville, Ontario, R.H. Verduyn Granite Co. Ltd. in Peterborough, Ontario, Barber Monuments Ltd., in St. Catharines, Ontario, and Somerville Memorials Ltd. in Calgary, Alberta; and under the Family Memorials banner in Brandon, Manitoba, and Regina, Saskatchewan, and in Swan River, Manitoba through its exclusive agent, Heritage Memorial Gardens.

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