NEWS RELEASE TRANSMITTED BY Marketwired
FOR: Manitok Energy Inc.
TSX VENTURE SYMBOL: MEI
FEBRUARY 4, 2014
Manitok Energy Inc. Announces Grant of Incentive Stock Options
CALGARY, ALBERTA--(Marketwired - Feb. 4, 2014) -
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE
UNITED STATES OF AMERICA.
Manitok Energy Inc. (the "Corporation") (TSX VENTURE:MEI) announces
that its board of directors approved the granting of incentive stock options
("Options") under its stock option plan to certain of its directors,
officers, employees and consultants to acquire up to an aggregate of 1,134,000
common shares ("Common Shares") of the Corporation.
All of such Options are exercisable for a period of five years at a price of
$2.40 per Common Share and 33 1/3% of the Options will vest one year after the
date of the grant of such Options and the remainder will vest 33 1/3% per year
Upon the granting of the Options described above, Manitok will have 6,452,773
Options outstanding, which represents about 8.8% of the 73,700,973 Common
Shares currently outstanding. Manitok's stock option plan currently limits
the issuance of Options to no more than 10% of the outstanding Common Shares.
Manitok is a public oil and gas exploration and development company focusing on
conventional oil and gas reservoirs in the Canadian Foothills and Southeast
Alberta. The Corporation will utilize its experience and expertise to develop
the untapped conventional oil and liquids-rich natural gas pools in both the
Foothills and Southeast Alberta areas of the Western Canadian Sedimentary
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.
FOR FURTHER INFORMATION PLEASE CONTACT:
Manitok Energy Inc.
Massimo M. Geremia
President and Chief Executive Officer
INDUSTRY: Energy and Utilities - Oil and Gas
-0- Feb/05/2014 04:41 GMT
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