Vancouver, BC, April 22, 2013 /FSC/ - Santa Barbara Resources Limited (SBL - TSX Venture), ("Santa Barbara" or the "Company") reports that today the Board of Directors of the Company granted stock options to directors, officers, employees and consultants to purchase 1,080,000 common shares of the Company, exercisable for up to five years at a price of $0.10 per share, which price exceeds the last closing price of the Company's shares prior to the date of grant. The options granted will vest immediately and will be subject to any applicable regulatory approvals and hold periods. This is the first option grant since August 2010.
Subject to regulatory approval, the Board has also re-priced 200,000 stock options previously granted to employees and consultants who are not insiders of the Company, from a price of $0.75 per share to $0.10 per share. The term of these outstanding stock options will remain unchanged.
About the Company
Santa Barbara is a South American mineral explorer focusing on Peru and Chile. The Company has 25.3 million shares outstanding.
ON BEHALF OF THE BOARD
"Christoph Lassl" Christoph Lassl, President and Chief Executive Officer
Please visit the Company's web site: www.sbr-ltd.com. For further information, please contact Christoph Lassl, President and Chief Executive Officer. Telephone: 56-9-81490442 or email: christoph@sbr-ltd.com .
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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Vancouver, BC, April 22, 2013 /FSC/ - Santa Barbara Resources Limited (SBL - TSX Venture), ("Santa Barbara" or the "Company") reports that today the Board of Directors of the Company granted stock options to directors, officers, employees and consultants to purchase 1,080,000 common shares of the Company, exercisable for up to five years at a price of $0.10 per share, which price exceeds the last closing price of the Company's shares prior to the date of grant. The options granted will vest immediately and will be subject to any applicable regulatory approvals and hold periods. This is the first option grant since August 2010.
