VANCOUVER, Dec. 8 /CNW/ - Anooraq Resources Corporation ("Anooraq" or the "Company") (TSXV:ARQ; NYSE Amex: ANO; JSE:ARQ) announces the award on November 30, 2009 of options in respect of the Company's ordinary shares to the following directors of the Company, as set out in the table below:
Name of director Number of options Total value (CAD)
---------------- ----------------- -----------------
Philip Kotze 1,000,000 840,000
Tumelo Motsisi 800,000 672,000
Harold Motaung 510,000 428,400
Wayne Kirk 150,000 126,000
Rizelle Sampson 150,000 126,000
Sipho Nkozi 150,000 126,000
Anu Dhir 150,000 126,000
Fikile de Buck 150,000 126,000
Ronald Thiessen 150,000 126,000
The options have been granted in terms of the Company's stock option plan at the strike price of CAD0.84 each. The options vest over the next three years as follows:
One third: November 30 2010
One third: November 30 2011
One third: November 30 2012
Once vested the options are exercisable immediately at the discretion of the holder; however, the options must be exercised by November 30, 2016, failing which they lapse.
The aforementioned directors have been given the prescribed clearance to conduct the transactions, and they each have a 100% direct and beneficial interest in the options.
On behalf of the Board of Directors
President and CEO
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
The NYSE Amex has neither approved nor disapproved the contents of this press release.
This release includes certain statements that may be deemed "forward looking statements". All statements in this release, other than statements of historical facts, that address the engagement of a new chief financial officer, future production, reserve potential, exploration drilling, exploitation activities and events or developments that Anooraq expects are forward looking statements. Anooraq believes that such forward looking statements are based on reasonable assumptions, including assumptions that Anooraq will be able to engage a new chief financial officer within a reasonable period of time. Forward looking statements, however, are not guarantees of future performance and actual results or developments may differ materially from those in forward looking statements. Factors that could cause actual results to differ materially from those in forward looking statements include market prices, exploitation and exploration successes, changes in and the effect of government policies with respect to mining and natural resource exploration and exploitation and continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and those actual results or developments may differ materially from those projected in the forward looking statements. For further information on Anooraq, investors should review the Company's annual information form filed on www.sedar.com or its form 20-F with the United States Securities and Exchange Commission and its other home jurisdiction filings that are available at www.sedar.com.
SOURCE Atlatsa Resources Corporation
For further information: For further information: Joel Kesler, Executive: Corporate and Business Development, Office: +27 11 779 6800, Mobile: +27 82 454 5556; Russell and Associates, Charmane Russell/Nicola Taylor, Office: +27 11 880 3924, Mobile: +27 82 372 5816/+27 82 927 8957