VANCOUVER, June 26 /PRNewswire-FirstCall/ - Biotech Holdings announced today that the Board of Directors has replaced 896,000 stock options exercisable at $0.25 per share which expired on January 2, 2006, with new stock options exercisable at $0.16 per share. The replacement options will vest on October 22, 2006 and expire on June 22, 2008. A total of 560,000 of these options were granted to Directors and Officers of the Company and the remaining 336,000 were granted to Consultants to the Company.
The Board of Directors also replaced 545,000 stock options exercisable at $0.55 per share which expired on March 24, 2006 with new stock options exercisable at $0.10 per share. These replacement options will vest October 22, 2006 and expire on June 22, 2008. A total of 470,000 of these options were granted to directors and officers and 75,000 were granted to consultants to the company.
The stock options described above comply with the Stock Option Plan approved by the shareholders on September 30, 2005 and are subject to the approval of the TSX Venture Exchange.
Biotech Holdings Ltd. is based in Richmond, British Columbia. Biotech Holdings trades on the Over the Counter Bulletin Board in the United States . The Company is working with the TSX Venture Exchange for resumption of trading of the Company’s shares on the TSXV.
For inquiries, contact Austin Rand at Biotech Holdings Ltd., 1 888 216 1111 (toll-free), 8 a.m. to 5 p.m. Pacific time, or by e-mail at biotech@direct.ca. For background information, please visit Biotech’s website at www.biotechltd.com.
This release has been approved by the Board of Directors of Biotech Holdings.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
Any statements made in this release that are not based on historical fact are forward-looking statements. Any forward-looking statements made in this release represent management’s best judgement as to what may occur in the future. However, actual outcome and results are not guaranteed and are subject to certain risks, uncertainties and assumptions and may differ materially from what is expressed.
Biotech Holdings Ltd.
CONTACT: Austin Rand at Biotech Holdings Ltd., 1-888-216-1111 (toll-free),8 a.m. to 5 p.m. Pacific time, or by e-mail at biotech@direct.ca. Forbackground information, please visit Biotech’s website atwww.biotechltd.com.; To request a free copy of this organization’s annualreport, please go to http://www.newswire.ca and click on Tools forInvestors.