Business
GREAT WESTERN MINERALS GROUP AMENDS STOCK OPTION PLAN
GREAT WESTERN MINERALS GROUP AMENDS STOCK OPTION PLAN.
About this update from Great Western Minerals Group Ltd
[{"type":"text","content":"GREAT WESTERN MINERALS GROUP LTD. TSX Venture Symbol: GWG CUSIP: 39141Y 10 3OTCQX: GWMGF GREAT WESTERN MINERALS GROUP AMENDS STOCK OPTION PLAN April 18, 2011 - Saskatoon, Canada: Great Western Minerals Group Ltd. (\"GWMG\" or the \"Company\", TSX:V – GWG) announces that has amended its stock option plan to reflect recent regulatory changes and to implement non-material housekeeping changes. In accordance with the provisions of GWMG's existing stock option plan (the \"Option Plan\") and pursuant to the policies of the TSX Venture Exchange, GWMG has implemented certain amendments to its Option Plan to address new withholding tax requirements which came into force in 2011. In addition, GWMG has amended the Option Plan to allow for the automatic extension of stock options that expire during a \"blackout\" period and to implement other non-material changes. Readers may review the amended Option Plan at www.sedar.com. Great Western Minerals Group Ltd. is an integrated Rare Earths processor. Its specialty alloys are used in the battery, magnet and aerospace industries. Produced at the Company's wholly owned subsidiaries Less Common Metals Limited in Birkenhead, U.K. and Great Western Technologies Inc. in Troy, Michigan, these alloys contain aluminium, nickel, cobalt and Rare Earth Elements. As part of the Company's vertical integration strategy, GWMG has signed an Off-take Agreement for 100% of the Rare Earth Elements produced at the former producing Steenkampskraal mine in South Africa and holds 92.6% ownership in Rare Earth Extraction Co. Limited, the owner of the Steenkampskraal mine. In addition to a planned exploration program at Steenkampskraal, GWMG also holds interests in six Rare Earth exploration and development properties in North America. For further information, please contact Dwight Percy, Manager of Investor Relations at (306) 659-4500. Email inquiries should be made to [email protected] a...