VANCOUVER, British Columbia, Sept 7, 2001 (PRIMEZONE) -- Soho Resources Corp., (CDNX:SOH), today announced that the Company has granted a total of 1,108,000 stock options to directors and employees. The options will carry an exercise price of $0.40 per share and expire five years from the date of granting.
In addition, the company has agreed to re-price a total of 400,000 existing director and employee stock options from a price of $0.60 per share to $0.40 per share. These re-priced options will retain their existing expiry date of Feb 12, 2006.
Both the newly granted options and the re-pricing of existing options are subject to regulatory approval from the Canadian Venture Exchange.
About Soho Resources Corp.
Soho Resources is an oil and gas exploration company actively exploring prospects in the Williston and Uintah Basins in the United States, and in the Michigan Basin of Canada. Both directly and indirectly, Soho holds varying interests in four projects, including Quest project in Utah (3% to 21.4% interest), the 80,000-acre Sundance project in North Dakota (37.5% interest), the Phoenix Project in southern Ontario (100% interest) and the Wolverine Prospect in North Dakota (100% interest).
Note: The Canadian Venture Exchange has not reviewed and does not take responsibility for the adequacy or accuracy of this release.