Business
Solana Resources Limited ("Solana" or the "Company") - Change to Board of Directors and Grant of Options
CALGARY and LONDON, May 30 /CNW/ - Solana Resources Limited (TSX-V: SOR; AIM: SORL) is pleased to...
About this update from Kutcho Copper Corp
[{"type":"text","content":"\n\n\n\nCALGARY and LONDON, May 30 /CNW/ - Solana Resources Limited (TSX-V: SOR;\nAIM: SORL) is pleased to announce the election of a new member to its Board of\nDirectors. Mr. Luis Miguel Morelli was elected as a Non-Executive Director to\nSolana's Board of Directors at the Company's Annual General and Special\nMeeting of Shareholders on May 7, 2008. In addition, Mr. Stan Grad did not\nstand for re-election as a Director at the meeting. The Company wishes to\nthank Mr. Grad for his past service and the contributions he has made to\nSolana over the years. Solana's Board of Directors is now comprised of Ray\nAntony, Grant Howard, Roy Hudson, Scott Price, Keith Jackson and Luis Miguel\nMorelli.\n\n\nMr. Morelli is an independent businessman. He was the Governor of the\ndepartment (province) of Norte de Santander in the Republic of Colombia from\n2004 to 2008. Prior to that, he spent 15 years with Occidental Petroleum's\nColombian affiliate, Occidental de Colombia, in legal, environmental and\nexternal affairs.\n\n\nIn connection with his appointment, Mr. Morelli has been granted stock\noptions to purchase 200,000 common shares at a price of $4.13 per share for a\nperiod of five years and vest on a 1/3 basis on each of the date of grant and\nthe first and second year anniversaries of the date of grant. The stock option\ngrant is subject to regulatory approval. Solana has determined that exemptions\nfrom the various requirements of TSX Venture Exchange Policy 5.9 are available\nfor the grant of stock options to Mr. Morelli. The Corporation has further\ndetermined that an exemption from the various requirements of Ontario\nSecurities Commission Rule 61-501 is available as the fair market value of the\ngrant of options is less than 25% of the market capitalization of the\nCorporation.\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 held through its wholly owned subsidiary, Solana Petroleum Exploration\n(Colombia) Limited. The Company is headquartered in Calgary, Alberta, Canada.\n\n\nNO REGULATORY AUTHORITY HAS APPROVED OR DISAPPROVED THE CONTENT OF THIS\n\n\nRELEASE. THE TSX VENTURE EXCHANGE DOES NOT ACCEPT RESPON...