Eastfield grants options to buy 1.35 million shares

2008-12-19 13:00 ET - Options Proposed

Mr. Bill Morton reports

EASTFIELD RESOURCES GRANTS STOCK OPTIONS

Eastfield Resources Ltd. has granted a total of 1.35 million incentive stock options to directors, employees and consultants to the company pursuant to the company's stock option plan. The stock option plan (a rolling plan with a maximum of 10 per cent of issued shares reserved for issuance) was approved by shareholders on July 21, 2008. The 1.35 million options are exercisable for a period of 10 years at a price of five cents per share and are subject to the approval of the TSX Venture Exchange. Following this grant, there are 4.41 million stock options outstanding with expiries from 2009 through 2018 and exercise prices ranging from five cents to 20 cents per share.

The company presently has 44,394,919 shares issued and outstanding.

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