CGX Energy Announces Stock Option Grant

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[{"type":"text","content":"\n\n\n\nCGX Energy Announces Stock Option Grant\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nTORONTO, Jan. 17, 2020\n\n\n\nTORONTO, Jan. 17, 2020 /CNW/ - CGX Energy Inc. (\"CGX Energy\" or the \"Company\"), announces the granting of incentive stock options to purchase 1,510,000 common shares of the Company (the \"Options\"), subject to regulatory approval.  The Options were granted on January 17, 2020 pursuant to the Company's stock option plan and are exercisable at a price of $0.71 per share, and are set to expire on January 17, 2025.  The Options vest as follows: (a) one-third of the Options vest immediately; (b) one-third of the Options vest on the six month anniversary of when the Options were granted; and (c) and the remaining one-third of the Options vest on the first anniversary of when the Options were granted, subject to a vesting acceleration clause under certain events.\nAbout CGX Energy\nCGX Energy is a Canadian-based oil and gas exploration company focused on the exploration of oil in the Guyana-Suriname Basin. \nNEITHER 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\nForward-Looking Statements: \nThis news release contains forward-looking statements.  Forward-looking statements are frequently characterized by words such as \"plan\", \"expect\", \"project\", \"intend\", \"believe\", anticipate\", \"estimate\", \"may\", \"will\", \"would\", \"potential\", \"proposed\" and other similar words, or statements that certain events or conditions \"may\" or \"will\" occur in the future.  These forward-looking statements are based on certain key expectations and assumptions made by CGX Energy.  CGX Energy believes the expectations and assumptions on which it develops forward-looking statements are reasonable; however, undue reliance should not be placed on forward-looking statements as there can be no assurance they will prove to be correct.  Since forwar...

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