Solid announces stock option issuance

Nov 24, 2009

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EDMONTON, Nov. 24 /CNW/ - Solid Resources Ltd. ("Solid") announces that, subject to regulatory approval, it has granted a total of 550,000 options to purchase common shares of Solid to the directors, officers, consultants and employees of Solid, with an exercise price of $0.165 and an expiry date of five years from date of issue.

Following the grant of these 550,000 options, the maximum number of options available for grant under Solid's stock option plan have been granted. Solid also announces that, subject to shareholder and regulatory approval, including approval of the TSX Venture Exchange, it has granted an additional 5,000,000 options to purchase common shares of Solid to the directors, officers, consultants and employees of Solid, with an exercise price of $0.165 and an expiry date of five years from date of issue. As these options have been granted over the maximum number of options available under the stock option plan, Solid will seek approval of the grants of these options by the TSX Venture Exchange and the shareholders at the next shareholders meeting and the options will not be exercisable until such approval has been obtained.

Solid has determined that there are exemptions available from the various requirements of TSX Venture Policy 5.9 and Multilateral Instrument 61-101 for the issuance of these options (Formal Valuation - Issuer Not Listed on Specified Markets; Minority Approval - Fair Market Value Not More Than $2,500,000).

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    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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For further information: Mr. Garnet Harter, Tel: (780) 416-7525, This e-mail address is being protected from spambots. You need JavaScript enabled to view it