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Sirios Resources Inc. : Amendment to the Stock Option Plan

Jan 18 2013 12:00AM

Marketwire

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MONTREAL, QUEBEC -- (Marketwire) -- 01/18/13 -- SIRIOS RESOURCES INC. (TSX VENTURE: SOI) announces that it has received the conditional approval of the TSX Venture Exchange (the "Exchange") with respect to the amendment of its stock option plan (the "Plan"). The Plan had not been amended since 2007 and Sirios considered that it was necessary to amend it in order to align it with the current policies of the Exchange. The principal amendments to the Plan are the following:

1. increase of the number of shares reserved for issuance under the Plan from 857,143 to 1,910,000;2. extension of the maximum period to exercise options from 5 to 10 years;3. elimination of the vesting provisions with respect to the exercise of options, except for persons performing investor relations activities; and4. extension of the period to exercise options following a retirement, a resignation or a termination of employment, such period being 12 months instead of 60 days.



The amendment to the Plan remains subject to the final approval of the Exchange.

GRANT OF INCENTIVE STOCK OPTIONS

The Board of Directors of Sirios has granted today 1,175,000 stock options under its Stock Option Incentive Plan to directors, officers and employees at an exercise price of $0.24 per share. The options expire five (5) years from the date of grant.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.



Contacts:
Dominique Doucet, President
(514) 510-7961
(514) 510-7964 (FAX)
ddoucet@sirios.com
www.sirios.com

Frederic Sahyouni, CFO
(514) 510-7961
(514) 510-7964 (FAX)
fsahyouni@sirios.com
www.sirios.com





Source: Marketwire


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