November 02, 2010 CanAlaska Uranium Ltd. Amends and Issues Stock Options
CanAlaska News Release - Nov 2 2010
Vancouver, Canada, November 2 2010,
CanAlaska would like to report that the TSX
Venture Exchange (the "Exchange") has accepted for filing the
Company's amended stock option plan which was approved by the
Company's shareholders at the Annual General Meeting that was
held on September 23, 2010. The fixed plan has been amended to
increase the shares reserved for issue to a maximum of
34,000,000 shares. The plan currently has 18,630,000 allotted
to management, directors, consultants and employees of the
Company. A copy of the amended plan is available on SEDAR.
The Company also received disinterested
shareholder approval for the adjustment of the exercise price
for all outstanding stock options to $0.085 per share, which has
now been modified to an exercise price of $0.10 per common share
in order to comply with the provisions of the "Discounted Market
Price" under Policy 1.1. The re-pricing of the options has been
accepted by the Exchange. The Exchange hold period of 4 months
will apply from the acceptance date of the option re-pricing.
Additionally the Company has allocated a further
3,412,500 shares to management, directors, consultants and
employees of the Company, of which 2,872,500 have been granted
to insiders at an exercise price of $0.10 per share, these
options are exercisable for a three year period.
Peter Dasler, M.Sc., P Geo. is the
Qualified Person responsible for this news release.
About CanAlaska Uranium
CANALASKA URANIUM LTD. (CVV -- TSX.V,
CVVUF -- OTCBB, DH7 -- Frankfurt) is
undertaking uranium exploration in
twenty 100%-owned and three optioned
uranium projects in Canada's Athabasca
Basin -- the "Saudi Arabia of Uranium".
Since September 2004, the Company has
aggressively acquired one of the largest
land positions in the region, comprising
over 2,500,000 acres (10,117 sq. km or
3,906 sq. miles). To-date, CanAlaska has
expended over Cdn$65 million exploring
its properties and has delineated
multiple uranium targets.
Emil Fung, Director & V.P. - Corp. Dev.
The TSX Venture has not reviewed and does not
accept responsibility for the adequacy or accuracy of this
release: CUSIP# 13708P 10 2. This news release contains certain
"Forward-Looking Statements" within the meaning of Section 21E
of the United States Securities Exchange Act of 1934, as
amended. All statements, other than statements of historical
fact, included herein are forward-looking statements that
involve various risks and uncertainties. There can be no
assurance that such statements will prove to be accurate, and
actual results and future events could differ materially from
those anticipated in such statements. Important factors that
could cause actual results to differ materially from the
Company's expectations are disclosed in the Company's documents
filed from time to time with the British Columbia Securities
Commission and the United States Securities & Exchange
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