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Solana Resources Limited ("Solana" or the "Company") Announces Grant of Stock Options
Solana Resources Limited ("Solana" or the "Company") Announces Grant of Stock Options.
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[{"type":"text","content":"\n\n\n\nCALGARY, Dec. 1 /CNW/ - Solana Resources Limited (TSX-V: SOR; AIM: SORL)\nannounced that it has granted stock options to purchase 100,000 shares to\nJoaquin Moreno Uribe and stock options to purchase 50,000 shares to each of\nRay Antony, Stan Grad, Grant Howard and Roy Hudson - all are non-executive\ndirectors of the Company. The options were granted with an exercise price of\n$1.15 per share, being a price greater than the closing price of the Company's\nshares on the TSX Venture Exchange on November 30, 2006. All options will\nexpire on December 1, 2011. One-third of the options vest immediately, another\none-third after one year and the remaining one-third after the second year.\nThe stock option grant is subject to regulatory approval. The Company has\ndetermined that exemptions from the various requirements of TSX Venture\nExchange Policy 5.9 are available for the grant of these options. These\narrangements have been approved by Solana's Board of Directors as being in the\nbest interests of the Company and its shareholders, reflecting the need to\nattract, retain and incentivize top quality directors, officers, employees and\nconsultants in present market circumstances.\n\n\nSolana Resources Limited\n\n\nSolana (www.solanaresources.com) is an international resource company\nengaged in the acquisition, exploration, development and production of oil and\nnatural gas. The Company's properties are located in Colombia, South America\nand are primarily held through its wholly owned subsidiary, Solana Petroleum\nExploration (Colombia) Limited. The Company is headquartered in Calgary,\nAlberta, Canada.\n\n\nNO REGULATORY AUTHORITY HAS APPROVED OR DISAPPROVED THE CONTENT OF THIS\n\n\nRELEASE. THE TSX VENTURE EXCHANGE DOES NOT ACCEPT RESPONSIBILITY FOR THE\n\n\nADEQUACY OR ACCURACY OF THIS RELEASE.\n\n\n","length":1881,"tagName":"div"}]