TORONTO, June 21 /CNW/ - Rapid Brands Inc. (the "Company") (TSX-V: RAP) announces that a total of 896,500 options to purchase common shares of the Company were granted to directors and officers of the Company on June 18, 2010 at an exercise price of $0.10 per common share, expiring on June 18, 2020. The grant is subject to regulatory approval.
Under the Company's stock option plan, 10% of the issued and outstanding shares, or 1,036,500 common shares are reserved for issuance. Including the above grant, a total of 1,036,500 options are currently outstanding under the Company's stock option plan.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward Looking Statements
By their very nature, forward-looking statements involve inherent risks and uncertainties, both general and specific, which give rise to the possibility that predictions, forecasts, projections and other forward-looking statements will not be achieved. We caution you not to place undue reliance on these statements as a number of important factors could cause our actual results to differ materially from those expressed in such forward-looking statements. These statements are not a guarantee of future performance and are subject to risks and uncertainties that could cause actual results to differ materially including management of market, liquidity and funding and operational risks, the impact of changes in laws and enforcement thereof, the strength of the overall economy, our ability to manage costs and other variable operating expenses and other factors set forth in reports and other documents filed with the relevant Canadian securities regulatory authorities from time to time including our quarterly and annual management discussion and analysis. We caution that the foregoing list of factors that may affect future results is not exhaustive.
In addition, we have made assumptions in the preparation of this release including that the operating requirements of our current business will not materially change necessitating material change to our operating expense structure. The foregoing assumptions, although considered reasonable by us at the date of this release, could prove to be inaccurate and consequently our actual results could differ materially from expectations set out herein. This assumption covers significant areas, but is not comprehensive in scope. Please see previously issued documents to provide additional information and details as well as other potential risks.
SOURCE RAP Acquisition Corp.
For further information: For further information: Ronald D. Schmeichel, Director and CEO, Rapid Brands Inc., Tel: 416 972-6294, Email: firstname.lastname@example.org