Canadian Spirit Resources Inc. (SPI.V) announced the approval of
a grant of stock options and as part of an overall corporate
strategy, a planned reduction in the size of its board of
The corporation's board of directors has approved a grant of
1,605,000 options to directors, officers and employees. All the
options have a term of five years and may be exercised at a price
of $0.25 per share.
Effective November 30, 2012, the board of directors accepted the
resignations of George Watson, Philip Grubbe and Susannah Tam as
directors. Richard Couillard, Donald Gardner and Joseph Iannicelli
will continue to serve as directors with Iannicelli being appointed
chairman of the board. Phillip Geiger tendered his resignation as
director but will remain in the position of president and CEO.
SPI shares lost two cents to $0.225.
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