The Board has approved the following changes to the terms of these Options: 1. The expiry period is extended by one year from the current expiry date. 2. The exercise price is reduced to US$0.15 per Option.
Bontan currently has 29,820,743 Common shares issued and outstanding.
About Bontan Corporation Inc.
Bontan Corporation Inc. ("the Company") has recently been involved in oil and gas exploration business. It has now expanded its search for a suitable business opportunity in all sectors.
The Company focuses on projects where the other project partners have proven experience in handling the project successfully and profitably.
No regulatory authority has approved nor disapproved the content of this release.
This press release contains forward-looking statements as defined in US federal and Canadian securities laws ("the laws"). In particular, when used in the preceding discussion, the words "plans", "confident that", "believe", "expect", or "intend to", and similar conditional expressions are intended to identify forward-looking statements within the meaning of the laws and are subject to the safe harbor created by the laws. Such statements are subject to certain risks and uncertainties and actual results could differ materially from those expressed in any of the forward-looking statements.
We currently have no reserves as defined in Canadian National Instrument 51-101 Standards of Disclosure for Oil and Gas Activities. All information contained herein regarding resources are references to undiscovered resources under Canadian National Instrument 51-101, whether stated or not.
SOURCE Bontan Corporation Inc.