VAL-D'OR, QUEBEC, CANADA--(Marketwire - Aug. 20, 2008) - Metanor Resources Inc. ("Metanor" or the "Company") (TSX VENTURE:MTO)(TSX VENTURE:MTO.WT) announces that the warrants issued in relation to a private placement closed on May 16, 2007 will commence trading, this morning, on TSX Venture Exchange, under the trading symbol MTO.WT.
This private placement was for the subscription of 18,750,000 Units at a price of C$0.80 each (the "Units"). Each Unit was composed of a common share and one half of one common share purchase warrant. One whole Warrant will allow its holder to purchase an additional common share, at an exercise price of $1.00, until May 15, 2012.
Also, the Company announces that pursuant to its Incentive Stock Option Plan, certain incentive stock options have been granted to directors, officers and employees for the purchase of up to 350,000 common shares at prices ranging from $0,80 to $1,00 per share, vesting over a period of one year and exercisable for a 10 year period. Further, an option has been granted to a service provider for 50,000 common shares at a price of $1,09 per share, exercisable over a two year period.
73,469,693 shares
FOR FURTHER INFORMATION PLEASE CONTACT:
Metanor Resources Inc. Serge Roy Chairman and CEO 819-825-8678 819-825-8224 (FAX) info@metanor.ca www.metanor.ca
The TSX Venture Exchange does not accept any responsibility for the adequacy or the accuracy of the press release.
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