Falcon Oil & Gas Ltd. Announces the Granting of Stock Options
DUBLIN, IRELAND -- (Marketwired) -- 05/01/13 -- Falcon Oil & Gas Ltd.
(TSX VENTURE:FO)(AIM:FOG)(ESM:FAC) ("Falcon") announces that on April
30, 2013 it granted incentive stock options ("Options") to purchase
an aggregate of 9,900,000 common shares of Falcon to a number of
recipients, including directors, officers and employees under the
stock option plan approved at Falcon's annual shareholders meeting
held on September 25, 2012. The Option grants are all subject to
regulatory approval by the TSX Venture Exchange.
A maximum of 10% of the issued and outstanding shares of Falcon are
reserved for issuance pursuant to Falcon's stock option plan.
A total of 3,000,000 Options were granted at an exercise price of
$0.215 to Eoin Grindley, Falcon's Chief Financial Officer pursuant to
the terms of his employment contract.
5,500,000 Options were granted at an exercise price of $0.24 (a 23%
premium to the closing share price on April 30th, 2013) to the
following Falcon directors:
Name Number of Total number
Options Granted of Options after
John Craven 2,000,000 3,100,000
Igor Akhmerov 2,500,000 2,900,000
Daryl Gilbert 200,000 2,900,000
Gregory Smith 200,000 1,000,000
Joachim Conrad 300,000 1,000,000
David Harris 300,000 300,000
The remaining 1,400,000 Options were granted to employees of Falcon
at an exercise price of $0.24.
The Options all have a vesting schedule allowing for 1/3 of the
Options to vest on the first anniversary of the grant with an
additional 1/3 vesting each subsequent year until the Options are
fully vested on April 30, 2016, and an expiry date of the Options of
April 29, 2018.
Falcon's closing price on the TSX Venture Exchange on April 30th,
2013 was $0.195.
After this grant, there are 42,737,000 Options outstanding,
5.2% of the issued and outstanding common shares of
About Falcon Oil & Gas Ltd.
Falcon is an international oil & gas company engaged in the
acquisition, exploration and development of conventional and
unconventional oil and gas assets, with the current portfolio spread
between Australia, South Africa and Hungary. Falcon is incorporated
in British Columbia, Canada and headquartered in Dublin, Ireland with
a technical team based in Budapest, Hungary.
Neither the TSX Venture Exchange nor its Regulation Services Provider
(as that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.
Falcon Oil and Gas Ltd.
+353 1 417 1900
Falcon Oil and Gas Ltd.
+353 87 814 7042
+44 207 269 7157
+44 207 269 7230
+44 207 269 9348
John Frain / Anthony Farrell
+353 1 679 6363
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