Understanding the deal, page-6

If the company granted options to existing shareholders as requested, it costs the company nothing. It will help get votes to get the deal through.
At a minnimum this could be sent to the board for approval
1 option for every 3 NEW shares exercise 30c expiry 12 months from deal (Raises $10 mill) 12 months pays dannys $5 mill if in the money. Plus
1 option Every 3 shares exercise 30c 24 months expiry, Pays Dannys $5 mill as well plus
2 Options every 3 new shares exercisable at 30 cents expiry 3 years..

This may be a good win for shareholders and $$ coming in for the company for expansion