November 21, 2008 Orko Silver Corp. announces new grant of stock options and repricing of certain existing stock options
VANCOUVER, British Columbia - Orko Silver Corp. -- (TSX.V - OK) announces that it has granted 200,000 stock options to a director and 250,000 stock options to a consultant, each option being exercisable at an exercise price of $0.45 for a period of five (5) years ending November 21, 2013. One quarter of the options will vest every three months, with the first quarter vesting immediately. The options have been granted under the terms of the Company's Stock Option Plan.
In addition, the Company announces that it intends to reduce the exercise price of 13,190,000 incentive stock options as to 6,595,000 options to $0.45 per share and 6,595,000 options to $0.60 per share, subject to TSX Venture Exchange acceptance, as well as, in the case of Insiders of the Company, the approval of disinterested shareholders. The Company intends to seek such disinterested shareholder approval at its next Annual General Meeting scheduled for March 2009. Accordingly each of the subject option holders will have the exercise price of half their options reduced to $0.45 per share and the other half to $0.60 per share. There has been no change to the expiry date of the options.
ON BEHALF OF THE BOARD OF DIRECTORS
For further information, contact Orko Silver Corp. at (604) 684-4691 or via email at or visit our website on line at www.orkosilver.com
This News Release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. Orko relies upon litigation protection for forward-looking statements.
*Cautionary Note to U.S. Investors -- The United States Securities and Exchange Commission permits U.S. Mining companies, in their filings with the SEC, to disclose only those mineral deposits that a company can economically and legally extract or produce. We use certain terms in this press release, such as "measured", "indicated", and "inferred" resources, which the SEC guidelines strictly prohibit U.S. registered companies from including in their filings with the SEC. U.S. Investors are urged to consider closely the disclosure in our Form 20-F, File No. 000-51923, which may be secured from us, or from the SEC's website at http://www.sec.gov/edgar.shtml .
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