VANCOUVER, BRITISH COLUMBIA, Dec 18, 2009 (Marketwire via COMTEX) —-ERA Carbon Offsets Ltd. (ERA or the “Company”) (TSX VENTURE:ESR) announces that, based on shareholders’ approval received at its annual shareholder meeting on September 10, 2009, the Company has made application to the TSX Venture Exchange to re-price 1,150,000 previously granted incentive stock options (the “Options”). The Options were originally granted to insiders with an exercise price of $1.00; and are being re-priced to $0.41 per share, being the closing price as at the day before publication of the AGM notice. The Options were re-priced to bring them more in line with market prices of the Company’s common shares so as to ensure that the interests of management are aligned with shareholders’ interests and to link performance compensations to enhancement of shareholder value.
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