Mill City Gold Corp. - Amendment to stock option plan and grant of incentive stock options
CALGARY, Jun 12, 2008 (Canada NewsWire via COMTEX News Network) --
TSX VENTURE SYMBOL "MC"
MILL CITY GOLD CORP. ("Mill City" and/or the "Company") announced today that the directors of the Company approved, subject to requisite approval by the Company's shareholders and the TSX Venture Exchange, an amendment to the Company's stock option plan to increase the maximum number of common shares issuable under the plan from 8,543,841 to 10,084,841 being 20% of the Company's issued and outstanding common shares as at the date hereof. Under the Company's stock option plan as so amended, the Company has today granted to Bruce Durham, P.Geo., senior geological consultant to the Company, an incentive stock option to purchase 500,000 common shares. In addition, the Company also granted additional incentive stock options to directors and officers to purchase a total of 1,050,000 common shares. These options may not be exercised until the requisite shareholder approvals have been received and will vest as to 25% upon TSX Venture Exchange approval of the amendment to the Company's stock option plan for filing and 12 1/2% every quarter thereafter with an expiry date of June 10, 2013 and are exercisable at a price of $0.25 per share.
ON BEHALF OF THE BOARD OF DIRECTORS
"James R. Brown"
James R. Brown
Chairman, President & CEO
The TSX Venture Exchange does not accept responsibility for the adequacy
or accuracy of this Release.
SOURCE: Mill City Gold Corp.
James R. Brown at (403) 640-0110 or visit the Company's website at www.millcitygold.com
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