2013-01-22 23:06:57 -
TORONTO, ONTARIO -- (Marketwire) -- 01/22/13 -- PhosCan Chemical Corp. (TSX:FOS) announces that it has granted an aggregate of 4,400,000 stock options on January 21, 2013 pursuant to the Company's stock option plan to directors, officers and employees entitling them to purchase the common shares of the Company at a price of $0.40 per share until 5:00 p.m. (Toronto time) January 22, 2018, with 25% vesting immediately and 25% on each of the first, second and third anniversaries of the date of grant.
In addition to the stock options granted on January 21, 2013, the Company has 2,620,000 stock options outstanding with an exercise price of $1.25 per common share and which are due to expire on March 14, 2013.
PhosCan Chemical Corp.
President & CEO