Attached files
Exhibit 99.1
[SKY HARVEST WINDPOWER LOGO]
SKY HARVEST ADOPTS 2011 STOCK OPTION PLAN AND INITIAL GRANTS
March 10, 2011 Symbol: SKYH:OTCBB
VANCOUVER, BRITISH COLUMBIA--Sky Harvest Windpower Corp. OTCBB:SKYH
(the"Company") announces that effective March 10, 2011, the Company's board of
directors adopted the 2011 Stock Option Plan. The purpose of the 2011 Stock
Option Plan is to enhance the long-term stockholder value of the company by
offering opportunities to current and prospective directors, officers, employees
and eligible consultants of the Company to acquire and maintain stock ownership
in the Company in order to give these persons the opportunity to participate in
the Company's growth and success, and to encourage them to remain in the service
of the Company. A total of 5,000,000 shares of common stock are available for
issuance under the 2011 Stock Option Plan.
The 2011 Stock Option Plan provides for the grant of incentive stock options and
non-qualified stock options. Incentive stock options granted under the 2011
Stock Option Plan are those intended to qualify as "incentive stock options" as
defined under Section 422 of the Internal Revenue Code. However, in order to
qualify as "incentive stock options" under Section 422 of the Internal Revenue
Code, the 2011 Stock Option Plan must be approved by the stockholders of our
company within 12 months of its adoption. The 2011 Stock Option Plan has not
been approved by our stockholders. Non-qualified stock options granted under the
2011 Stock Option Plan are option grants that do not qualify as incentive stock
options under Section 422 of the Internal Revenue Code.
Concurrent with the adoption of the 2011 Stock Option Plan, the Company granted
incentive stock options on an aggregate of 1,525,000 shares of its common stock
to its current director and officer, as well as eligible consultants. These
stock options are exercisable at a price of $0.10 per share for a period of five
years.
SKY HARVEST WINDPOWER CORP.
William Iny, President
Sky Harvest Windpower Corp. is a United States and British Columbia reporting
issuer involved in development stage wind power projects located in southwest
Saskatchewan, Canada. Wind speed and environmental data relating to the
Company's leased properties indicates that the properties host a strong and
consistent wind resource that warrants the erection of wind power generation
facilities with the potential to generate up to 350 MW of electricity. For more
information, please contact Sky Harvest at 604-267-3041