EDMONTON, Dec. 18 /CNW/ - TOTAL TELCOM INC. (TSX Venture: TTZ) the Board of Directors announced the grant of stock options to the following Directors, Officers and Employees: Scott Allen, CFO/Director - 125,000, Neil Magrath, CEO/Director - 350,000 and Lawrence Cunningham, Director - 100,000. The options are for five (5) years and have an exercise price of $0.23. In addition a total of 360,000 options on similar terms were granted to various employees of the Company.
The company has reserved 2,471,500 options being 10% of the total issued and outstanding shares of which 1,066,500 options remain outstanding at this date. All stock options are subject to the provisions of the Company's stock option plan.
"The TSX Venture Exchange does not accept responsibility for the adequacy
or accuracy of this release."