Cypress Hills Resource Corp.

Cypress Hills Resource Corp.

October 07, 2005 10:22 ET

Cypress Hills Announces Additional Stock Option Grants

CALGARY, ALBERTA--(CCNMatthews - Oct. 7, 2005) - CYPRESS HILLS RESOURCE CORP. (TSX VENTURE:CHS) ("Cypress Hills") announces that Cypress Hills is granting stock options to 3 directors, officers, employees or consultants on the following terms:

(a) the total number of Common Shares to be made available upon exercise of the new stock options is 75,000;

(b) the exercise price for the options is $0.50 per share (or such other price approved by TSX-Venture Exchange based on allowable discounts from recent trading prices).

Cypress Hills is an oil and gas corporation whose shares are listed for trading on TSX Venture Exchange Inc.

As of October 6, 2005 (i.e. before taking into account the issuance of the stock options referred to above) Cypress Hills had outstanding 23,480,745 common shares, warrants to purchase an additional 5,678,333 common shares at prices between $0.20 and $0.30 per share, and director/officer/employee/consultant stock options to purchase an additonal 1,125,000 common shares at prices between $0.12 and $0.21 per share, for a total potential diluted share capital (i.e. if all options and warrants were exercised) of 30,284,078 common shares.

TSX Venture Exchange Inc. has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Cypress Hills Resources Corp.
    Ted J. Fostey
    (403) 691-7736
    (403) 264-7478 (FAX)
    Cypress Hills Resources Corp.
    #1800, 407 - 2nd Street S.W.
    Calgary, Alberta, T2P 2Y3