EXHIBIT 10.7
ASTRIS ENERGI INC., 2394 Dunwin Drive, Mississauga, Ontario, Canada L5L IJ9
Tel 905 608-2000, Fax 905 608-2020
Energy Ventures Inc.
43 Fairmeadow Ave.
North York, Ontario M21? IW8
Attn.: Mr. D. Wayne Hartford 22 October 1998
Re: Grant of Option
Gentlemen:
Board of Directors of Astris Energi Inc. hereby grants to Energy
Ventures Inc. an option to acquire 1,000,000 (one million) common shares in the
capital stock of Astris Energi Inc. at an exercise price of US$030 (thirty cents
in U.S. currency) per common share. This option shall expire five years from the
date of this letter.
BY THE ORDER OF THE BOARD OF ASTRIS ENERGI INC.
/s/ Jiri K. Nor, P.Eng.
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President
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