McChip Resources Inc.
TSX VENTURE : MCS

September 01, 2011 16:15 ET

McChip Resources Inc.: Grant of Stock Options

TORONTO, ONTARIO--(Marketwire - Sept. 1, 2011) - McChip Resources Inc. (TSX VENTURE:MCS) (the "Company") announces that it has granted stock options to directors and employees of the Company to purchase up to 400,000 common shares, in aggregate ("Common Shares") in the capital of the Company at an exercise price of $2.20 per Common Share, the closing price of the Common Shares on August 31, 2011, expiring on August 31, 2016. The current number of issued and outstanding Common Shares is approximately 5,660,096. The options were granted pursuant to the Company's incentive stock option plan (the "Plan"), under which a maximum of 560,000 Common Shares are reserved for issuance. Following the grant of such options, a further 160,000 Common Shares will be available for issuance under the Plan.

THE TSX VENTURE EXCHANGE INC. HAS NEITHER APPROVED NOR DISAPPROVED THE CONTENTS OF THIS PRESS RELEASE.

Contact Information

  • McChip Resources Inc.
    Edward G. Dumond
    Corporate Secretary
    416 364-2173