Olivut Resources Ltd.
TSX VENTURE : OLV

Olivut Resources Ltd.

March 06, 2008 21:13 ET

Olivut Resources Ltd. Grants Incentive Stock Options

TORONTO, ONTARIO--(Marketwire - March 6, 2008) - Olivut Resources Ltd. (the "Company") (TSX VENTURE:OLV) announces that it has granted stock options to an employee of the Company to purchase up to 30,000 common shares ("Common Shares") in the capital of the Company at an exercise price of $0.74 per Common Share. The stock options shall expire on March 6, 2013. The options were granted pursuant to the Company's incentive stock option plan (the "Plan"), under which a maximum of 10% of the issued and outstanding Common Shares are reserved for issuance. The current number of issued and outstanding Common Shares is 31,588,317. Following the grant of such stock options, a further 631,512 Common Shares will be available for issuance under the Plan.

The grant of options is subject to regulatory approval, including approval of the TSX Venture Exchange.

Leni Keough, President and Chief Executive Officer

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

Contact Information

  • Olivut Resources Ltd.
    Leni Keough
    President and Chief Executive Officer
    (780) 866-2221
    (780) 669-5766 (FAX)
    Website: www.olivut.com