Plexmar Resources Inc.

Plexmar Resources Inc.

March 22, 2007 22:00 ET

Plexmar Resources Inc.: Amendment to Stock Option Plan

SAINTE-FOY, QUEBEC--(CCNMatthews - March 22, 2007) - Plexmar Resources Inc. (TSX VENTURE:PLE) is pleased to announce that its shareholders approved an amendment to the Corporation's stock option plan at the last annual general and special meeting held on June 2, 2006. The amendment increased the number of common shares issuable under the stock option plan from 9,136,600 to 18,370,408.

The Corporation's management felt that it was appropriate to increase the number of common shares issuable under the stock option plan to 20% of its issued and outstanding shares in order to maintain the Corporation's flexibility in granting stock options, particularly when appointing new directors and executives or hiring new employees and consultants. This amendment also enables the Corporation to further encourage its employees, executives, directors or consultants.

The amendment to the stock option plan was conditionally approved by the TSX Venture Exchange.

This press release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address future exploration drilling, exploration activities and events or developments that the Company expects, are forward looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions.

- 126 M shares outstanding

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

Contact Information

  • Plexmar Resources Inc.
    Guy Bedard
    Paradox Public Relations