Puh, it's not just Alfalight's M&A plan that has been removed in the corrected news release. A couple of of numbers, dates and spelling issues have also been fixed in the "Option Grant" section as well as minor stuff in other places.
To me it seems some incomplete draft has been sent out in error instead of the final version. Here's the "Option Grant" section with the changes being highlighted:
At the Board Meeting, incentive stock options were granted under the Company's stock option plan, to certain directors, officers, key consultants and employees of the Company, to purchase up to an aggregate of 1,363,000 1,563,000 common shares, representing 0.75% 0.86% of the outstanding shares of the Company.
Of these options, 10.5% 9.1% were granted to key employees who are the technical staff related to the POET effort, 8.8% 7.7% to the Company's officers, 80.7% 51.2% to the non-officer Ddirectors and xx% 32% to Ddirectors who are also officers. The stock options are exercisable at a price of CA$1.54 per share expiring and expire June 12, 2020. The options will vest and be exercisable on the basis of 25% on the 6-month anniversary of the date of grant and 25% every six months thereafter.
The options were granted subject to provisions of the Company's stock option plan which was approved by shareholders on June 12, 2014 and are subject to the TSX Venture Exchange policies and applicable securities laws. There are currently 181,795,928 shares issued and outstanding and 14,195,082 33,821,582 stock options outstanding. For further details on the Company's share capital, refer to the Company's Financial Statements and the MD&A for the 3-months ended April 30 March 31, 2015 which were recently filed on SEDAR.
