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lmcat

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lmcat

Re: bigguy2012 post# 18213

Monday, 09/24/2012 3:11:35 PM

Monday, September 24, 2012 3:11:35 PM

Post# of 62039
On March 9, 2012, former Director James Stonehouse and the Company entered in to a settlement agreement and general release of claims whereby all debt of approximately $106,000 owed by the Company to Mr. Stonehouse were satisfied in exchange for 250,000 options at an exercise price of $0.05 per share.

James Stonehouse was the VP of Operations of the mine when it was owned by Copper Mesa and worked there. He knows the mine better than anyone.

Clearly James expects SIRG share price to far exceed .05 for him to agree to forgive $106,000 in exchange for the write to buy options at .05.

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