Trading Symbol: VPI
VANCOUVER, June 17 /CNW/ - The directors of Vitality Products Inc. have,
subject to shareholder and regulatory approval, considered and approved a
rolling stock option plan (the "Plan"). The purpose of the Plan is to provide
incentive to qualified parties to increase their proprietary interest in the
Company and thereby encourage their continuing association with the Company.
Under the Plan, the Company may grant incentive stock options to directors,
officers, employees or consultants pursuant to which up to 10% of the
Company's issued and outstanding Common shares, as at the time of grant, may
Currently, there are 19,887,285 Common shares issued and outstanding. As
a result, the number of Common shares currently issuable pursuant to the Plan
is 1,988,728 Common shares, representing 10% of the issued and outstanding
Common shares. The Plan will replace the Company's existing stock option plan
(the "2005 Plan") which provides that the number of Common shares issuable
under the 2005 Plan may not exceed 750,000 Common shares. There are
600,000 stock options outstanding.
Shareholders will be asked to approve the Plan at the Company's annual
general meeting to be held on July 15, 2008.
On behalf of the Board of
VITALITY PRODUCTS INC.
"William N. Grant" (signed)
William N. Grant, President & CEO
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
For further information:
For further information: Douglas Grant, CFO at (604) 683-6611 or