Vitality adopts new stock option plan

About this update from Vitality Products Inc.

[{"type":"text","content":"\n\n\n\nTrading Symbol: VPI\n\n\nVANCOUVER, June 17 /CNW/ - The directors of Vitality Products Inc. have,\nsubject to shareholder and regulatory approval, considered and approved a\nrolling stock option plan (the "Plan"). The purpose of the Plan is to provide\nincentive to qualified parties to increase their proprietary interest in the\nCompany and thereby encourage their continuing association with the Company.\nUnder the Plan, the Company may grant incentive stock options to directors,\nofficers, employees or consultants pursuant to which up to 10% of the\nCompany's issued and outstanding Common shares, as at the time of grant, may\nbe purchased.\n\n\nCurrently, there are 19,887,285 Common shares issued and outstanding. As\na result, the number of Common shares currently issuable pursuant to the Plan\nis 1,988,728 Common shares, representing 10% of the issued and outstanding\nCommon shares. The Plan will replace the Company's existing stock option plan\n(the "2005 Plan") which provides that the number of Common shares issuable\nunder the 2005 Plan may not exceed 750,000 Common shares. There are\n600,000 stock options outstanding.\n\n\nShareholders will be asked to approve the Plan at the Company's annual\ngeneral meeting to be held on July 15, 2008.\n\n\nOn behalf of the Board of\n\n\nVITALITY PRODUCTS INC.\n\n\n"William N. Grant" (signed)\n\n\n----------------------------------\n\n\nWilliam N. Grant, President & CEO\n\n\nThe TSX Venture Exchange has not reviewed and does not accept\n\n\nresponsibility for the adequacy or accuracy of this release.\n\n\n%SEDAR: 00005856E\n\n\n","length":1710,"tagName":"div"}]

More updates from Vitality Products Inc.