EDMONTON, ALBERTA--(Marketwire - Dec. 5, 2012) - Grizzly Discoveries Inc. (TSX VENTURE:GZD)(OTCQX:GZDIF)(FRANKFURT:G6H) ("Grizzly" or the "Company") announces that the Board of Directors of the Company (the "Board") has authorized the grant of stock options under the Company's Stock Option Plan to two consultants of the Company to purchase an aggregate of 200,000 common shares of the Company exercisable at a price of $0.10.
In addition, the Board has approved, subject to approval of the TSX Venture Exchange (the "Exchange"), an amendment of the exercise price of the following stock options granted under the Company's incentive stock option plan to $0.10 per common share of the Company.
| Total Number of Options to be Repriced |
Number of Options Held by Non-Insiders |
Number of Options Held by Insiders |
Expiry Date |
Original Exercise Price |
| 100,000 |
100,000 |
- |
April 13, 2013 |
$0.50 |
| 500,000 |
500,000 |
- |
August 23, 2013 |
$0.75 |
| 200,000 |
- |
200,000 |
December 29, 2014 |
$0.42 |
| 625,000 |
175,000 |
450,000 |
January 20, 2015 |
$0.40 |
| 750,000 |
270,000 |
480,000 |
November 10, 2015 |
$0.30 |
| 40,000 |
40,000 |
- |
November 16, 2015 |
$0.30 |
| 200,000 |
- |
200,000 |
March 11, 2016 |
$0.47 |
| 200,000 |
- |
200,000 |
April 25, 2016 |
$0.55 |
| 1,100,000 |
225,000 |
875,000 |
October 31, 2016 |
$0.75 |
| 3,715,000 |
1,310,000 |
2,405,000 |
|
|
Pursuant to policies of the Exchange, the amendment to the exercise price of incentive stock options held by insiders of the Company must be approved by disinterested shareholders of the Company at the next annual general meeting of shareholders of the Company. Such stock options may not be exercised until disinterested shareholder approval is obtained.
