uranium announcement, page-28

For every 5 Cardia shares that you own come the said date you will be entitled to Purchase one Cam Bow U share at 1.5cents.

Cardia have notified all option holders that in order to participate in the above you will need to exercise your option at .10cents to a share then you will be entitled to a Cam Bow at 1.5cents.
Your options will still continue to trade on the ASX should you not convert them up until their expiring 30 June 2011.

Another point is that the Wolfman has allowed the options to have a second life after exp. with a small payment in the past 2 or 3 occasions of the Cardia history so long live the options I say.