Aztek Resource and Development Inc.

August 15, 2005 16:54 ET

Aztek Grants Stock Options

TORONTO, ONTARIO--(CCNMatthews - Aug. 15, 2005) - Aztek Resource and Development Inc.

Pursuant to a Resolution dated August 9, 2005 the board has granted stock options as follows:

No of Exercise
Options Price Expiry Date Position
Alan Zaakir 200,000 $0.30 3-Aug-07 President
& Director
Nick Sintichakis 200,000 $0.30 3-Aug-07 Director
Lawrence Weingarten 200,000 $0.30 3-Aug-07 Director
Don Gordon 300,000 $0.30 3-Aug-07 Consultant
Brian Peterson 100,000 $0.30 3-Aug-07 Consultant
Edward Hopkinson 200,000 $0.30 3-Aug-07 Director
Total 1,200,000

Mr. Petersen is founder and Principal of Petersen Financial Inc. of Kelowna B.C. and provides a valuable role as an independent director.

Aztek Resource and Development Inc. is Aztek is actively engaged in completing the private placement originally announced February 28th of up to 1,720,000 units at a price of $0.35 per unit for aggregate proceeds of up to $602,000. Each unit will consist of one common share and one-half of one common share purchase warrant (a "Warrant" or "Warrants"). One full Warrant will entitle the holder to acquire one additional Share (a "Warrant Share") for a period of 24 months from the date of issuance of the Units, exercisable at a price of $0.40.

The proceeds will be used for executing the exploration program on the Tiger River property in Guyana, as recommended by John Sullivan of Watts, Griffis and McOuat.

These securities have not been and will not be registered under the U.S. Securities Act of 1933, as amended, or the securities laws of any state and may not be offered or sold in the United States unless an exemption from such registration is available. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful.

No Securities Regulatory Authority or stock exchange has approved or disapproved of the information contained in this press release.

Contact Information

  • Aztek Resource and Development Inc.
    Mr. Alan Zaakir
    (416) 504-6111