TORONTO, Oct. 19 /CNW/ - (TSX:ONT) - Mr. Salvatore Fuda, Chairman of Ontex Resources Limited ("Ontex"), has been granted 1,600,000 stock options of Ontex. Each option entitles Mr. Fuda to acquire one common share of Ontex at an exercise price of $0.115 and expires on October 13, 2008. Following the grant of options, Mr. Fuda
and entities deemed to be acting jointly and in concert with him have
ownership and control over 12,838,605 common shares of Ontex on a fully
diluted basis representing 18.7% of the outstanding common shares of
Ontex (assuming the options are exercised in their entirety).
For further information: Mr. Fuda may be contacted at (416) 360-4031, 777 Bay Street, Suite 1910, Toronto, ON M5G 2C8.
