December 06, 2006 15:25 ET

AntOro Grants Options Priced at $0.135 and Issue Shares in Settlement of Canada Revenue Agency Re-Assessments

MONTREAL, QUEBEC--(CCNMatthews - Dec. 6, 2006) - AntOro Resources Inc. (TSX VENTURE:ORE) announces that at its November 28, 2006, annual and extraordinary shareholders' meeting it obtained approval from disinterested shareholders to increase the number of shares that can be issued under its share option purchase plan to 10 million shares from the current 4.5 million shares.
The Corporation grants 2,700,000 additional options to purchase common shares to its directors. These options have an exercise price of $0.135 per share and are valid until December 5, 2011.

The grants are the following:

Michel L. Cote 600,000 options
Francois C. Desrosiers 600,000 options
Gilles Provost 600,000 options
Benoit M Violette 600,000 options
Martin Nicoletti 300,000 options

The grants to Mr. Nicoletti are as part compensation as consultant to the Corporation.

The Corporation also obtained the approval of the majority of the disinterested shareholders in regards to the proposed settlement entered into with subscribers of 1999 and 2000 flow-through-share private placements, which were the object of reassessments from Canada Revenue Agency, since the exploration funds they invested were used for corporate purposes. The Corporation will issue 4,217,232 shares at a unit price of five cents per share. The total value of the reassessment is $210,867. This settlement was reported in Stockwatch news Feb. 15, 2006, and in the Corporation's Oct. 30, 2006, press release. This settlement had been conditionally approved by the TSX Venture Exchange.

The TSX Venture Exchange does not accept responsibility for adequacy or accuracy of this release.

Contact Information

  • AntOro Resources Inc.
    Francois C. Desrosiers
    514-982-6044, ext.223