QUÉBEC CITY, QUÉBEC--(Marketwired - Nov. 26, 2015) - Pétrolia (TSX VENTURE:PEA) announces that in accordance with its compensation policy, and its stock option plan, which is to grant stock options each year to its employees and directors, Pétrolia's Board of Directors granted on November 25, 2015, 1,800,000 stock options to its employees and directors. The price has been set at $0.34 per share, and the expiry date for these options is November 25, 2020. Certain of the options vest over a three year period.
Pétrolia is a junior oil and gas exploration company which owns interests in oil and gas licenses covering 16,000 km² (4 million acres), which represents almost 23% of the Québec territory under lease. The closing of a partnership on Anticosti Island has led to the creation of Anticosti Hydrocarbons L.P., a limited partnership in which Pétrolia holds a 21.7% interest. In order to carry out the project's operations, Pétrolia Anticosti Inc., a subsidiary of Pétrolia, was designated project operator. Pétrolia is a Québec company whose objective is to develop oil from here, by the people here, for here. Pétrolia has 92 420 195 shares issued and outstanding. North Shore of the St. Lawrence.
Certain statements made herein may constitute forward-looking statements. Forward-looking statements includes the characteristics of Anticosti LP's properties; exploration and development plans, including planned drilling and fracturing, timing of such plans and the number of jobs created as a result of these plans; strategies and objectives; and government support. These statements relate to future events or the future economic performance of Petrolia Inc. or Anticosti LP and carry known and unknown risks, uncertainties and other factors that may considerably affect its results, economic performance or accomplishments when considered in light of the content or implications or statements made by Petrolia Inc.. Actual events or results could be significantly different. Accordingly, undue reliance should not be placed on these forward-looking statements. Petrolia Inc. does not intend and undertakes no obligation to update these forward-looking statements.
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.
(November 26, 2015 - 4:05 PM EST)
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