Business
Arrow Announces Issuance of Stock Options
Calgary, Alberta--(Newsfile Corp. - September 9, 2022) - Arrow Exploration Corp. (AIM: AXL) (T...
About this update from Arrow Exploration Corp.
[{"type":"text","content":"Arrow Announces Issuance of Stock OptionsCalgary, Alberta--(Newsfile Corp. - September 9, 2022) - Arrow Exploration Corp. (AIM: AXL) (TSXV: AXL) (\"Arrow\" or the \"Company\"), announces the issuance of a total of 2,250,000 stock options (\"Options\"), pursuant to the Company's Stock Option Plan (\"the Plan\") to certain Directors as detailed below. The Plan is intended to assist in attracting, retaining, engaging, and rewarding directors, officers, employees, and consultants of the Company, provide additional incentive to these people for their efforts on behalf of the Company, and to align with shareholder interests. Under the Plan, the Company can issue Options to a maximum of 10 per cent of the number of issued and outstanding common shares in the Company from time to time.Included in the total issuance of Options above, the following have been awarded to directors/PDMRs:NameRoleOptions issuedVestingExpiryMaria CharashDirector1,000,0001/3 yr 1, 1/3 yr 2, 1/3 yr 36 months after vest dateGrant CarnieDirector1,000,0001/3 yr 1, 1/3 yr 2, 1/3 yr 36 months after vest dateRavi SharmaDirector250,0001/3 yr 1, 1/3 yr 2, 1/3 yr 36 months after vest date The Options issued have an exercise price of CAD $0.26, the closing market price of the Company's common shares trading on the TSX Venture Exchange on September 7, 2022. The Options vest in thirds, with one third vesting upon each of the first, second and third anniversaries of issuance, and expire on six (6) months after vesting. The grant of the Options is subject to regulatory acceptance. Following the issuance of these Options, the Company shall have a total of 18,095,000 options issued under the Plan. For further Information, contact:Arrow ExplorationMarshall Abbott, CEO +1 403 651 5995Joe McFarlane, CFO +1 403 818 1033Brookline Public Relations, Inc.Shauna MacDonald +1 403 538 5645Canaccord Genuity (Nominated Advisor and Joint Broker)Henry Fitzgerald-O'Connor +44 (0)20 7523 8000James AsensioGordon HamiltonAuctus Advisors (Joint Broker)Jonathan Wright (Corporate) +44 (0)7711 627449Rupert Holdsworth Hunt (Broking)Camarco (Financial PR)James Crothers +44 (0)20 3781 8331Rebecca WaterworthBilly CleggAbout Arrow Exploration Corp.Arrow Exploration Corp. (operating in Colombia via a branch of its 100% owned subsidiary Carrao Energy S.A.) is a publicly traded company with a portfolio ...